‘A great chance to build momentum’
A Scottish company CEO praised the UK Government’s Kickstart scheme as a “great opportunity”.
James Vargo, Chief Executive of Edinburgh-based DirectID, hopes to take on 30 recruits thanks to the initiative.
His fintech firm, supplying bank data products to customers across more than 30 countries, has been operating for a decade.
Companies use DirectID to verify the identity of their customers or applicants, carry out regulatory and compliance checks such as Anti-Money Laundering and Know Your Customer, also assessing affordability and spending patterns.
DirectID connects to more than 13,000 banks globally, having customers across the UK, Europe and continental America.
It gives the user the ability to do more online, by taking trusted data in your bank account and using it to access additional services.
“The Kickstart scheme is a great opportunity,” said Mr Vargo, originally from Vancouver, based in the UK for 24 years.
“We have actually just stretched ourselves and put in an application for 30 people”.
He hoped they could entice other fintech companies to join the bid but, when that did not happen, “we decided to go for it any way and play our part.”
DirectID already employs 25 people with company revenues having doubled this year, allowing the operation to more than double its workforce by taking on 30 jobseekers.
“There is a buzz around this kind of business right now and it is a good time to expand,” he explained.
DirectID is using the Kickstart scheme to recruit across the board, including sales and marketing roles, data insights and data analysis positions.
Mr Varga encouraged other Scottish firms to embrace the scheme, seeing it as an opportunity to build more momentum in fintech – one area that has increased amid the current pandemic.
The UK Government hopes that, after the six months, those on the scheme will become permanent staff.
“If we can use this to find some people, and it’s all productive and effective, then absolutely we will look to keep them on,” he added.