A South Wales financial technology company has doubled in size since relocating to Newport at the beginning of this year and is currently recruiting to bring another 20 highly skilled jobs to the area.
W2 Global Data, a software as a service (SaaS) company, develops a range of identity verification solutions to combat online fraud and stop would-be money launderers in their tracks. With access to thousands of credible government and commercial data sources from all over the world, it can instantly verify whether the data given by potential customers is genuine as well as documents, email addresses and even whether that individual is on a criminal wanted list.
This is particularly critical when online retailers process Card Not Present (CNP) transactions, where customers need to verify their identity before a purchase is made.
Warren Russell, CEO says:
“The rapid growth of online fraud and subsequent strengthening of the regulatory environment is putting real pressure on online retailers to verify their customers’ identity as part of their risk management and business continuity strategy. Demand for our services has far outgrown our earlier projections and we have doubled our headcount over the past year as a result. Newport is the perfect location for the next phase of W2 Global Data’s growth and development. There is a strong skills base in Newport, and we are keen to develop our relationship with the National Software Academy to increase our staff numbers and enhance the financial ecosystem and technology profile of the South Wales area”
For a cloud-based business like W2 Global Data, Newport is becoming a Super Connected City through a multi-million pound investment programme in its broadband and digital connectivity. As a part of the overarching, £2 billion regeneration programme, Newport City Council and the Welsh Government have also been keen to show their support of the prestigious National Software Academy (NSA); the ambition being, to make Newport a vibrant technology hub.
“Locating ourselves in Newport provides W2 with an opportunity to leverage such software expertise produced by the NSA – be that through the hiring of the trained and skilled graduates or through collaborative working partnership with the NSA”
The company’s proven technology solutions, which have secured backing from investors including Mercia Fund Managers and Development Bank of Wales, improve risk management processes, prevent money laundering, ensure regulatory compliance and make businesses more sustainable.