Financial technology firm, Sentenial today announced it will hire 110 staff as the company expands to meet demand for its payment technology.
Sentenial, a payments solution provider and implementation partner, is helping banks and businesses prepare for the switch to the Single Euro Payments Area (SEPA) on February 1st 2014.
Sentenial’s technology has been chosen by five out of Europe’s top 10 banks and in Ireland is used by all the main clearing banks. When the switchover to SEPA is made next year, Sentenial’s technology will be responsible for processing over €60bn worth of payments a year for companies and banks across Europe.
SEPA will provide a common payment processing system across the European Union, enabling cross-border payments to be completed as easily as domestic transfers, reducing costs and complexity for all bank account users.
Sentenial chief executive and founder, Sean Fitzgerald said: “The expansion we’re announcing today will help support the rapid growth we have experienced in 2013 and the pipeline of opportunities in coming months. I am very proud to have built a successful indigenous Irish technology business from a start up in 2003, into a rapidly growing business at heart of the European payments system.
“Companies are realising that the deadline for SEPA implementation is fast approaching and seeking expert advice to get their business ready. Whilst banks and large companies have invested in upgrading their systems, many SMEs in Ireland have not made adequate preparation, and could have an unpleasant surprise on 1st February finding that they are unable to pay suppliers and staff, or receive payments from customers.”
Sentenial already employs 160 staff, having added 100 people in the past 12 months, making it one of Ireland’s fastest growing indigenous technology companies. The new roles will be filled by the end of 2014, with 30 to be advertised before Christmas.
Minister for Jobs, Enterprise and Innovation Richard Bruton TD said: “As we have repeatedly said, at the heart of our Action Plan for Jobs is creating a powerful engine of Irish businesses, and we have put in place a range of measures to support more companies to start-up, expand and export. Irish businesses can compete with the best in the world.
“Today’s announcement that one leading Irish technology company, which has been supported by my Department in the past, is creating 110 jobs in the next 15 months is an indication of exactly how much they can achieve. Sentenial is growing rapidly in a cutting edge area of financial technology, and its commitment to almost double its workforce by end 2014 is a remarkable achievement.”