June 18, 2019
Business News

Kilkenny company lands major deal with US banking giant, 25 new jobs for city

KILKENNY-based TransferMate is creating 25 new jobs in the city after the company landed a major new deal with US banking giant Fargo Wells.

Under the contract, the Kilkenny company will handle the US bank’s entire global payments.

The company will also create another 25 new jobs to bolster its headcount in New York and North Carolina to manage the Wells Fargo partnership.

The deal with Wells Fargo is a major coup for the Kilkenny-based payments company.

TransferMate co-founder and chief executive Terry Clune said: “We went through a two-year due diligence process with Wells Fargo and we are the only fintech company they have chosen to administer their inward payments globally.”

“For other banks, that vetting and compliance that we have gone through makes us a much easier choice.”

TransferMate has also agreed major investment deals with IAB and Dutch giant ING. Last year the company was valued at €350 million.

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