Nostrum Group (From York Press)

Nostrum Group

10:55am Friday 19th August 2011 in Profiles

IN only four years, the staff at the Harrrogate-based Nostrum Group have soared from zero to 75.

Even at the height of the recession last year, the group nearly doubled turnover to £3.4 million – pedalling much harder to make only slightly less profit at £405,600 (£489,860 last year).

Such is the momentum in its offerings of business process outsourcing (BPO) and IT solutions provider to the financial services sector, the group is gunning for the Large Business Of The Year title.

With its headquarters at Simpson House, Windsor Court, in Clarence Drive, Harrogate, under immense pressure, the group opened a second call centre in Leeds, but only five months later it was at full capacity with extra office space being sought.

Key to the group’s success came in 2009 when it identified a niche market for US-based lenders seeking to open operations in the UK.

Over the last two years this has been further refined to allow the organisation and a small network of partners, including bankers and lawyers, to provide an unusual service from company formation and licensing to banking and, ultimately, Nostrum’s core services.

Nostrum will soon be one of only 50 companies in Europe to have gained the coveted Service Provider Level One status and other compliance codes.