Smart move as Belfast firm banks on success
A Belfast software company has announced a £2m deal with a major investment bank. Automated Intelligence (AI), which employs around 40 people, has designed a new product aimed at information management for financial institutions.
Enterprise Minister Jonathan Bell today congratulated the firm for its first big deal in financial services in the UK.
And Simon Cole, the firm's chief technology officer, said it had "aimed high" before winning the deal against "stiff international competition".
"This a great win for AI and a huge boost to our fantastic team that have worked tirelessly to make this happen," he added.
AI, which was founded in 2010, already has more than 60 major customers, including the UK's Department for Education, the Department for Energy and Climate Change, the Department of Health and HM Treasury.
But the identity of their latest big-money client has not been revealed due to commercial sensitivities.
Mr Cole said the firm would continue to innovate and bring new products to the market.
"This will ensure we become a global player in enterprise software and stay ahead of our competitors."
AI's new product, AI.ASSURE, will be used by over 200,000 staff at the bank. It's billed as providing a full enterprise, risk and governance business tool, while meeting the regulatory demands of the financial sector.
The company has received support from Invest NI worth a total of £250,000, aimed at increasing its export sales.
Mr Cole said: "Invest NI's support has been an essential driver in developing innovative products and in enhancing our marketing capabilities and ensuring the success of this deal.
"We now hope to build on the traction we have gained in the UK financial services market, which will go a long way in supporting our business plans to drive growth in international markets over the next five years."
Mr Bell said AI should be congratulated for its drive and commitment.
"It is clear there are now greater opportunities than ever for businesses here to expand into the global marketplace," he added.