Supported by Invest Northern Ireland, Arkk Solutions Ltd, a London-based financial regulatory and compliance software company, is setting up an operation in Belfast, which will initially employ nine staff.
The software company specialises in XBRL and iXBRL, a computer language for the electronic transmission of business and financial data. It has developed software to enable companies to iXBRL tag their accounts as required by HMRC in the UK and the Office of the Revenue Commissioners in the Republic of Ireland.
The new Belfast centre will replace the company’s existing operation in India and support its continued growth in the UK and Republic of Ireland markets.
Invest NI has offered £45,000 of support through its Jobs Fund.
Richard Metcalfe, CEO of Arkk Solutions, said: “This investment supports our focus on growing our outsourced accounts tagging operation. The move to Belfast enables us to operate within the same time zone as the rest of our business and through that support our ever growing blue chip client base.
“Our company strategy is to be the market leader in statutory and regulatory reporting and we’re continuing to develop our products and services as new regulations are introduced. The support from Invest NI was essential to our decision to move the operation from India to Northern Ireland. We’re looking forward to developing our Belfast team and to date have been impressed with the availability of local skills. We are convinced this talent pool will assist in boosting our business.”
Arkk Solutions was set up in 2009 and employs 20 staff in London. It has a blue chip client base that uses its proprietary software and outsourcing services.
Bill Montgomery, Invest NI’s Director of International Investment, said: “Arkk Solutions has seen steady growth over the past four years and has huge potential to grow on the back of the regulatory compliance introduced by HMRC and the Financial Conduct Authority (FCA).
“Invest NI’s London and Belfast teams encouraged Arkk Solutions to consider locating in Northern Ireland and the company quickly recognised that the region offers a cost-competitive and business friendly environment.”