First Derivative to invest £15.3m in Newry AI and fintech hub

First Derivative will invest £15.3 million to establish an AI and Fintech Centre of Excellence at its Newry headquarters in Northern Ireland. The company expects the programme to create 100 jobs, with 70 roles at Newry and 30 at its Belfast office. The announcement was made during a visit to the Newry site by First Minister Michelle O’Neill, Deputy First Minister Emma Little‑Pengelly and Economy Minister Dr Caoimhe Archibald.

Invest Northern Ireland offered an R&D grant of £3,204,190 to support the project, with part funding from the UK Government’s Shared Prosperity Fund. First Derivative is part of global technology group EPAM.

The centre will focus on research and development to build AI software and fintech processes for financial services clients. The company intends to develop processes and tools that clients can integrate into existing systems to modernise operations and improve efficiency. The company aims to serve major financial institutions.

Michelle O’Neill welcomed the announcement, stating: “This investment is a huge vote of confidence in Newry, our people and the potential of this city.” Emma Little‑Pengelly described the project as evidence of confidence in Northern Ireland’s tech talent pipeline. Dr Caoimhe Archibald noted that AI offers opportunities to boost productivity and create jobs across the north.

Andrew Colhoun, head of First Derivative, noted the project aligns with the company’s tech-first strategy and described the centre as a way to bring together specialist skills with AI software that clients can integrate into their systems. Kieran Donoghue, chief executive of Invest NI, welcomed the investment and highlighted the region’s skilled workforce and the agency’s prior support for the company in management and technical training.

Invest NI said its grant is intended to help secure the project for Northern Ireland over competing locations and to support long-term growth through investment in people and technology. The announcement follows First Derivative’s expansion from a local firm into an international consulting operation serving the financial services industry.