Monzo Bank Ltd. will open a customer operations base in Cardiff in a move that will create more than 300 jobs over a four-year period, the BBC reported Jan. 9.

The U.K.-based challenger bank selected the Welsh capital because of a £950,000 government grant intended to aid digital industries, and due to its "attractive economic conditions," Monzo co-founder Tom Blomfield said.

This development follows the digital bank's appointment of experienced banker Gary Hoffman as its nonexecutive chairman.