A leading provider of compliance and regulatory software solutions, Star Compliance, has recently relocated from its base in York city centre back to York Science Park, where it was originally based in 2010. Now located in York Science Park’s Catalyst building, on the University of York’s Heslington East campus, the company made the move as part of its strategic development plan and has also launched a recruitment drive for four new employees to expand its current team of 20.
Star Compliance is a privately owned software company that has been developing solutions to help manage employee conflicts in large global financial firms for over fourteen years. The company headquarters are in Rockville, Maryland just outside of Washington D.C., but the research and development team have been based in York since 2004.
The company’s software detects and manages conflicts of interest that may arise for employees who work for large financial firms e.g. the detection of insider trading activity where an employee may use information gained within the firm to profit by personally trading stocks prior to public announcements. Star Compliance has a growing list of clients and is used by investment advisers, broker dealers, hedge funds, insurance companies and private equity firms around the world.
The market for this type of software is rapidly expanding, with the need to track more types of activity within increasing volumes of information. StarCompliance is also expanding into new geographical regions with different regulatory requirements, including releasing a French version of its product which will be followed by other European language versions in the near future.
Tim Ward, Vice President of Product Management, Star Compliance, said: “Whilst our original decision to create an office in York was due to pre-existing relationships in our management team, the city has been a fantastic base for us. Our employees in the UK bring an international perspective and sensibility that has really helped us to design a leading global product. Moving back to York Science Park contributes to the local entrepreneurial buzz plus will be a key factor in cementing a strong relationship with the University to help find and grow the next generation of world class engineers.”
York has started to become a hub for software and technology firms attracting excellent developers away from London with a better quality of life and a lower cost of living. The investment in high speed communications across the city combined with superb facilities for expanding businesses, plus a well-regarded Computer Science Department at the University, all underpin our decision to choose to move back to York Science Park for the company’s expansion plans.”
Tracey Smith, managing director, York Science Park said: “I am delighted to welcome Star Compliance back to York Science Park and play a part in supporting them in their ambitious expansion plans. They are an exciting, innovative company to work with and are already providing some fantastic opportunities for the University’s Computer Science graduates. They are another great example of a software and technology company on the Park that are leading the field in their individual sectors, proving yet again that York is a great place for successful businesses to grow, and I wish them great success for the future.