By Scott Wright

AN Australian company that develops technology to help people realise their financial goals has relocated its global headquarters to Glasgow – and pledged to bring high-value jobs to the city.

BlackArrow Financial Solutions, which also has a presence in Sydney and Dublin, will create 45 roles in software development and technical support after committing to making Glasgow the centre of its global operations. It currently employs 16 people in Glasgow, where its present office is on George Square.

BlackArrow’s commitment to Glasgow has been underpinned by a £573,000 grant from Scottish Enterprise.

It comes in the same week new figures showed that Scotland secured more foreign direct investment projects last year than in 2019, despite the coronavirus pandemic. Scotland secured 107 FDI projects in 2020, up 6% from 101 in 2019, the latest EY attractiveness survey found.

Scottish Government Business Minister Ivan McKee said BlackArrow commitment to Glasgow “represents a massive vote of confidence in our recovery from the pandemic.”

He said: “Artificial intelligence technology promises significant opportunities for Scottish businesses and their customers and BlackArrow is creating exactly the kind of high-value and innovative jobs we need here.”

“Scottish Enterprise has a lengthy relationship with the company and this agreement is another tangible step towards post Covid-19 prosperity.

BlackArrow has developed an app that learns about a users' financial behaviour through linked bank accounts, and sends notifications to help them achieve financial goals, such as saving for a mortgage. The company, which was founded by Gopal Hariharan in Sydney in 2014, plans to develop the app further in Glasgow, where it has had a presence since 2019. The Glasgow base will also be used to offer consultancy services to banks and building societies that need to assess compliance with changing regulations.

Mr Hariharan said: “We know the complexities of planning a financial journey, which is why our platform will give customers the best framework to be the master of their own financial journey.

“Later this year we will showcase how we empower customers to take that first step of the home ownership journey; one of the most significant of all financial goals.”

“We are working closely with leading partners to bring customers closer to their dream of owning their home.”