There is a discernible buzz and sense of belief in Cardiff underpinned by wave of new business investments from the likes of fast-expanding digital bank Starling, according to TV presenter Carol Vorderman.
Ms Vorderman, originally from the Vale of Clwyd, said the capital and Wales more widely has the potential to become world leading in emerging growth sectors, like fintech, where it once dominated in heavy industries such as coal and steel.
Starling, founded by its Swansea-born chief executive Anne Boden, officially launched its Cardiff office this week. When setting up the operation the plan was to create 400 jobs, but that target has already been far exceeded with nearly 900 now employed from data analysts to software engineers and recruitment continuing.
The bank, which invested in Cardiff without any government financial assistance, is also looking to license its banking software and technology platforms to other financial institutions globally - with it also open to explore new markets. It is expected to float on the London Stock Exchange next year.
Speaking at the launch of the bank’s Cardiff office at Brunel House - which was delayed do to the pandemic - Ms Vorderman paid tribute to Ms Boden for being the first women to set up a bank in the UK, while describing Starling’s investment in the city as being emblematic of its new sense of confidence.
She said: “I am Welsh and half live in Pontcanna (Cardiff suburb). I have noticed that Cardiff has changed. The city has a buzz about it now and has a belief. It is just booming and you can see more money and investment coming in. The old docks have gone and obviously in that Valleys that industry (coal) has gone too, but Starling is a huge part of and an emblem almost of what is happening. So, I have seen a change in Wales and it is wonderful to have Anne Boden as the only women in British history to have established a bank.... how amazing is that.”
On her pride in being Welsh, Ms Vorderman said: “What I love about being Welsh is that we don’t do posh because we don’t actually know what it is. But we do family and we do it really, really, well because it is from the heart. Around 70% of people in Wales don’t move more than 10 miles from where they grew up because we love our families so much.”
Ms Boden, originally from Swansea, said of the bank’s investment in Cardiff: “I am really excited by the fantastic talent we have in the organisation and even more about creating an industry that is world leading and making the UK, Wales and Cardiff a centre where we break into new industries and do exciting things in technology around the world.
“We pledged to bring 400 jobs to Cardiff and nobody enticed us (government support) to do it, but we now employ 868. Cardiff and the wider region has a huge population of very talented people and great connections to universities. and people who want to do the right things by customers.
" I am from Swansea, but bringing jobs and great companies to Wales is very important to me. We have lost many industries but this (fintech) can be ours. The UK leads the way in fintech and Starling leads fintech in the UK and we are doing great things in Cardiff across all sorts of functions to make a real difference to people’s lives.”
Starling now has 1,854 employees across its four offices in Cardiff, London, Southampton and Dublin. Cardiff is its biggest base. It has more than three million customers in the UK, as well as a growing share of the lending market to SMEs.
