Seventy new high‑paying tech jobs are to be created in Newry as part of a major £15.3m investment by local fintech giant First Derivative.
The Newry-headquartered firm is setting up a new Artificial Intelligence and Fintech Centre of Excellence, with 100 new roles in total – 70 based in Newry and the remaining 30 in Belfast.
First Minister Michelle O’Neill, deputy First Minister Emma Little‑Pengelly and Economy Minister Dr Caoimhe Archibald visited the company’s HQ to announce the plans.
First Derivative, now part of global technology firm EPAM, provides specialist consulting and software solutions to many of the world’s biggest banks and financial institutions.
First Minister Michelle O’Neill said the move was “a huge vote of confidence in Newry, our people and the potential of this city”.
“This £15.3 million R&D investment will put First Derivative at the forefront of AI innovation and create 100 high-quality jobs, including 70 in Newry,” she said.
“AI is transforming economies around the world, and we want the North to help shape that future by providing ethical, fair, and responsible AI solutions… turning innovation into investment, creating good jobs in our communities and giving more people the opportunity to build their careers and their future at home.”
Deputy First Minister Emma Little‑Pengelly described the announcement as “great news for Newry and a real testament to the strength of our tech talent pipeline here in Northern Ireland”.
“First Derivative is a local success story, and this Centre of Excellence demonstrates the confidence that leading businesses have in our workforce and our potential to lead in AI and fintech innovation,” she said.
“The fact that this local company has grown into a global player, while continuing to invest and create jobs here, speaks to the strength of what we have to offer.”
Economy Minister Dr Caoimhe Archibald said the investment shows major companies “have confidence in our skilled workforce and innovation ecosystem”.
“AI offers significant opportunities to boost productivity, drive innovation and create high-quality jobs,” she said.
“The creation of 100 high-quality jobs will provide exciting opportunities for people to build careers in AI and FinTech, particularly in the Newry, Mourne and Down area. This investment supports my priority of achieving greater regional balance by creating high-value employment and innovation opportunities outside Belfast.”
The new Centre of Excellence will focus on research and development to create new technology and process solutions for First Derivative’s blue-chip clients, helping them modernise operations and make better use of data and AI.
Andrew Colhoun, Head of First Derivative, said: “This investment reflects our tech-first strategy, where innovation is at the heart of how we operate and deliver for our clients. We see a significant opportunity to harness advanced technologies, particularly AI, to modernise operations and improve efficiency.
“Establishing our Centre of Excellence is an important step in realising that vision… Ultimately the centre will help us be better positioned to solve complex client challenges and increase productivity. At the same time, this investment strengthens our presence in Northern Ireland and allows us to tap into the strong and growing talent base on offer here.”
Invest NI has offered £3.2m in R&D support to help secure the project for Northern Ireland over other locations, with funding part‑supported by the UK Government’s Shared Prosperity Fund.
Invest NI chief executive Kieran Donoghue said the decision to locate the work in Newry and Belfast “is a clear endorsement of the skilled workforce… our competitive business environment and growing reputation as a centre for advanced technology”.
He added: “This combination of investment in people and innovation is key to securing long-term growth, and we look forward to continuing to support First Derivative as it expands here.”
