News

Inetco sets up shop in London's 'Tech City'

The transaction monitoring and analytics software provider will use its London base to expand the company's footprint in European markets.

November 4, 2014

Inetco Systems Ltd., a provider of transaction monitoring and analytics solutions for the banking and payment processing industries, is opening an office in the Shoreditch district of East London — aka Tech City.

With its new office, the company is leveraging the Canadian Technology Accelerator initiative, a program that helps high-growth Canadian companies gain access to global markets.

"As a global hub for finance and technology, London is a natural city for innovative Canadian firms to put down roots and establish their European presence," said Canadian High Commissioner to the United Kingdom Gordon Campbell, in regard to the move by Inetco. "Our CTA-UK program is tailored to support — through unique resources and contacts — those small and medium-size businesses from Canada that have the vision, commitment and technology to expand into Europe and beyond."

From Shoreditch, the company will seek to gain a deeper European foothold for its software products, in particular, Inetco Insight. The company's flagship offering provides retail banks and payment processors with visibility into the performance of every consumer transaction, including those originating from ATM, point-of-sale, mobile and Internet banking applications.

"Having a physical presence in the U.K. will greatly expedite Inetco's expansion within the European banking, payment processing, and retail markets," said Bijan Sanii, president and CEO of Inetco. "Inetco Insight has already been adopted by European financial institutions such as TNSi and Sinergia — we're excited to build on these initial European inroads with the support of the Canadian Trade Commissioner Service."