Irish fintech start-up Touchtech plans to hire 40 skilled staff over the next three years at its Dublin office.
The news comes after the company secured its first major contract.
Founded by Joseph Kuye and Shekinah Adewumi in 2013, Touchtech specialises in online authentication using its TAP technology, which replaces the need for passwords when shopping or banking online.
Now under the management of John Power and Niall Hogan, the company has confirmed its first contract with Optimus Cards Group, one of the largest providers of payment card services in the UK and Ireland.
This will result in the creation of 40 jobs, in the form of technical and marketing positions, being created over the course of the next three years, with aims of generating a greater stature internationally, as well as attracting new clients.
Touchtech was recently included among Enterprise Ireland’s list of high-potential start-ups and it received €250,000, with a commitment for a further €100,000 based on future developments.
The company was also among the six finalists in this year’s Accenture Fintech Innovation Lab Dublin, which highlighted some of the next generation of fintech companies aiming to make a mark in Ireland and abroad.
Much of the company’s success is being pinned on the introduction of the Payment Services Directive 2 (PSD2), an EU law that requires all EU financial institutions to have ‘strong two-factor customer authentication’.
John Power, CEO of Touchtech, said: “This initial roll-out is part of our wider plans to build our presence in the banking sector, where an authentication solution such as ours can deliver significant benefits in terms of a better user experience, reducing costs and enhancing fraud protection.”
You can check out Niall Hogan speaking to Siliconrepublic.com during the Accenture Fintech Innovation Lab Dublin last March below.
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Lock on credit cards image via Shutterstock