ICC Venture Capital's software fund has invested £800,000 in Northland Computer Services, the Northern Ireland banking software firm.
The company's software assists financial institutions to build up research on customer behaviour and use this information to sell banking products through branches, call centres and other electronic channels.
Northland's software has already been adopted by several European banks and the company has signed agreements with three global banking providers, including the Irish company, Kindle Systems.
Northland's research and development is based in Derry and it currently has sales and support offices in Britain and Dublin. The new investment will result in employment growing from 20 to 50. Ms Anne Bannon of ICC's software fund said the investment "adds to ICC's growing portfolio of technology companies and supports our overall strategy of investing in new technology".
According to Mr Dermot Faller, the company's managing director, "this software will analyse the customer database, allowing better customer profiling, product matching and market segmentation".
