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A financial technology company is opening a Centre of Excellence in Belfast creating 232 new jobs by 2026.

The Bank of London is a start-up clearing bank that approves and processes payments.

It already employs about 34 staff and is advertising a further 54 roles. The company says it is expected to generate about £20m in annual salaries for the local economy.

The Belfast office will work with technology hubs in London and New York.

The new roles include finalising payments leaders, software engineers, operations and other business functions.

The firm's founder and chief executive Anthony Watson described Belfast as the UK's "gateway city to the European Union".

"This coupled with Belfast's exceptional FinTech talent across multiple disciplines, makes it the logical choice for The Bank of London's Centre of Excellence to power our UK expansion," he said.

Lord Peter Mandelson, a former Northern Ireland secretary in Tony Blair's government, is the deputy chairman of the group.

He said: "The people of Northern Ireland left an indelible impression on me, and I'm delighted that our firm has selected Belfast for its Centre of Excellence".