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Australian FinTech Business Expands UK HQ in Leeds

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08 Mar 2018

 

Sandstone Technology, an international financial technology (FinTech) company which operates across three continents, has announced its expansion in Leeds, after more than doubling the business’s UK headcount in 2017.

 

The announcement further reinforces Leeds City Region’s position as the ‘FinTech Capital of the North’ and comes as Sandstone Technology move into a new office at Concordia Works (winner of the UK’s ‘Best Small Office’ award 2017).  The big pulls for Sandstone to set up shop in Leeds were the growing TechHub environment, local transport links, plenty of graduates from the local universities with good IT skills and the quality of life it will offer employees. 

Sandstone Technology which was previously based at Prospect House in Leeds, opened its first Leeds office in 2006. Sandstone, which  was founded 22 years ago in Australia, is a world-leading provider of lending origination and digital banking software solutions, with 20% of all Australian mortgages processed via systems it created.

Sandstone Technology’s constant innovation and sustained growth has resulted in its latest expansion, with Leeds City Region selected as the best place to expand in.  Sandstone attests to the support from the Leeds City Region Enterprise Partnership (LEP) as a major influencing factor when making the final decision.  

Andy Thompson, General Manager EMEA at Sandstone said:

“Sandstone Technology has been at the forefront of FinTech since before the term was coined. Our Australian heritage ensures Sandstone is leading the innovation space globally and as a result we require the best talent available. When it came to the expansion we looked at where we could find the right people, with the right attitude in a location that offered our staff a fantastic quality of life, and it was then we realised we were already here in Leeds and just needed to expand.

“The region’s location and infrastructure both at a transport and digital communications level have been crucial to both our success and our expansion.  Leeds is perfect placed for us to travel to our clients in the major financial centres both North in Edinburgh and South in London. We have also been able to develop some fantastic relationships across the Leeds City Region, particularly with the Leeds Beckett University through which we offer a graduate training scheme - ensuring we are supporting and investing in the talent of tomorrow.

Roger Marsh OBE, Chair of Leeds City Region Enterprise Partnership, added:

“The expansion of Sandstone Technology in Leeds is fantastic news and a testament to the confidence within the City Region and underlines our digital strengths and position as the ‘FinTech Capital of the North’. 

“Our region and the North of England more widely has a heritage of invention, innovation and industry, and I know that Sandstone Technology continues this tradition.  It is wonderful to hear another global firm reference its ability to find and attract the right talent for their business within our City Region.

“I’m pleased to say that the LEP is continuing to work with City Region’s leading universities and colleges to invest in the skills for the future labour market, helping to create a pipeline of talent that businesses can benefit from. In turn these international firms create career opportunities which ensure that the region is able to retain more of the world class talent it produces.”

Councillor Judith Blake Leader of Leeds City Council, stated:

“Leeds has a growing reputation as a city that is leading the digital sector. The news that another global company like Sandstone Technology is investing in the city and strengthening its roots in Leeds by expanding and creating new jobs is fantastic and a great reflection of how Leeds is now viewed on an international level.

Minister for Investment Graham Stuart added:

“Sandstone Technology’s investment in the Northern Powerhouse reaffirms the UK’s position as a global leader in technology and innovation. This investment will double Sandstone’s UK headcount and boost the local economy through skilled jobs for local people.

“As an international economic department, DIT is continuing to attract further investment across the UK through our Invest in GREAT Britain and Northern Ireland campaign which connects investors with the specialist advice and support they need to grow their business.”