Tracesmart, a company founded and headquartered in Cardiff, Wales, will be creating 40 jobs by the end of the year, increasing employee numbers by more than 50 percent. The new roles, based in Cardiff, include highly skilled IT developers and engineers and will support Tracesmart as it becomes the U.K. center of excellence for LexisNexis® Risk Solutions which acquired the company in April 2014. For more than 12 years, LexisNexis Risk Solutions has been one of the fastest-growing divisions and a key area of strategic focus of its parent company, Reed Elsevier®, one of the world’s leading providers of digital content and professional information solutions.
“The UK is a key expansion market for LexisNexis, on the basis of scale and growth in demand for risk solutions. We have chosen to invest in Cardiff to benefit from a thriving local IT industry and to capitalise upon Tracesmart’s established business links in the region,” said Rick Trainor, CEO of Business Services, LexisNexis Risk Solutions.
New hires also will be working closely on the complete integration of LexisNexis data, analytics and linking technologies with Tracesmart’s solutions. Tracesmart solutions will transition to the LexisNexis big data processing platform called HPCC Systems, which is a high performance computing cluster platform. HPCC Systems is one of the most advanced, fast-performing big data processing technologies available today. It is an open source platform and used to solve large-scale, complex data and analytics challenges.
Hiring will continue throughout 2015, as Tracesmart expects to add additional IT roles to respond to already high-volume customer demand. Tracesmart supplies essential information that helps customers across industries manage their various data requirements, including predicting, assessing and managing risk.
LexisNexis is currently experiencing exceptionally strong demand for data services in the compliance sector. This has been driven by financial institutions seeking to respond to evolving financial sanctions, terror watch-lists and a range of other emerging regulatory requirements. The investment in Tracesmart forms a key part of LexisNexis’ response to this customer need.