NORWEGIAN financial technology company EedenBull is creating 20 jobs with its establishment of a hub in Edinburgh, following a £225,000 Regional Selective Assistance award from taxpayer-backed Scottish Enterprise.

The Edinburgh technology hub will support the development of the company’s products and services for the digitisation of banking services and transactions, Scottish Enterprise noted.

READ MORE: Ian McConnell: BMW talks reality as Johnson camp veil slips to reveal truth of Brexit

Oslo-based EedenBull, founded in 2018, already has a presence in London, Dubai and Singapore.

Explaining the factors behind its choice of Edinburgh for the new hub, EedenBull chief executive and co-founder Nicki Bisgaard said: “Access to talent, a thriving fintech scene and governmental support made that an easy decision.’’

READ MORE: Ian McConnell: No escape from Johnson’s dire Brexit farce in Paris metro and airport

A physical and digital credit card with an application (app) enabled for mobile wallets and wearables, tailored for consumers and small businesses, will be among products and services developed at EedenBull’s technology hub in Edinburgh’s Exchange Place business district.

The Edinburgh hub will also develop a business spend-management programme targeting small and medium-sized enterprises, and a single card platform that connects a user’s accounts and cards to one smart card and one app.

READ  MORE: Ian McConnell: Boris Johnson suspension of Parliament spells grave Brexit jeopardy for UK

Scottish Enterprise noted 13 start-up fintech companies had been formed north of the Border so far in 2019. It added that 10 overseas fintech firms had set up a base in Scotland over the past 18 months.

Mr Bisgaard said: “New regulations, new technologies and new players are forever changing the way consumers and businesses think about payments.”