Regulatory technology company AxiomSL is to create 100 new jobs in Limerick over the next five years as its opens a business operations centre in the city. 

The office will be located in the National Technology Park in Plassey, close to the University of Limerick.

AxiomSL provides regulatory reporting and risk management solutions and its expansion into Limerick is supported by IDA Ireland.

Headquartered in New York and with offices in Europe, Asia and the Americas, the company's product allows financial companies to create transparent processes to make sure their data meets regulatory reporting requirements.

"With the rapid expansion of our RegCloud business, AxiomSL sought a strategic location with access to world class talent and the ability to expand service and support for our global client base," commented Peter Tierney, Global Head of AxiomSL's RegCloud business. 

Mr Tierney said the support from the IDA team combined with the proactive engagement from local universities caught AxiomSL's  interest. 

"The existing community of FinTech and RegTech companies and the deep pool of multi-lingual tech and financial talent became evident as we investigated further. This expansion to Limerick and the hiring of key talent within the region will enable us to leverage these skills to continue our growth efforts within Europe and around the world," he added.

IDA Ireland's Executive Director Mary Buckley said an investment of this scale will further raise the profile of the Limerick region for additional investment in financial services activities. 

"It closely aligns to the Ireland for Finance strategy, which focuses on increasing financial services investment in regional locations," Ms Buckley said.