As of today a new venture between Fexco & University College Cork has commenced.
A financial technology (Fintech) research collaboration between the two organisations and Science Foundation Ireland has been launched today and will run for four years from 2019 to 2022.
The “FINTECHNEXT” titled project will receive a reported €3 million investment from Science Foundation Ireland and Fexco in equal parts.
The Cork University Business School within UCC will provide critical knowledge and expertise to the project.
The research project will see a team of twelve recently appointed researchers allocated and led by UCC, form a partnership with Fexco in the delivery of applied and funded research dedicated to disrupting and interpreting three crucial fintech areas such as Treasury & Foreign Exchange, Digital Taxation and Corporate Asset Administration.
The proposed outputs of the project between the organisations include commercially viable fintech prototypes and associated intellectual property as well as a dedicated fintech knowledge repository centred at UCC.
The team of researchers will be based between Fexco HQ in Co.Kerry, where Fexco already employs over 1,000 of its global 2,300 strong workforce, and University College Cork.
Denis McCarthy, Fexco CEO mentioned “Investment in research is key to developing and delivering the next generation of products, services and innovations that will disrupt the fintech sector, an industry that has been critical to the continued growth and development of the South West of Ireland and Fexco”.
Professor Patrick O’Shea, President of University College Cork said that the collaboration with Fexco contributes towards developing a world leading fintech sector in this region and on a national scale.
“This is a great example of the way the public and private sectors can invest together in innovative research with potentially valuable commercial applications,” Professor Patrick O’Shea added.
He also mentioned how gratifying it was to see FINTECHNEXT based in rural Ireland.
“Transforming how we deliver financial services like digital taxation, treasury and asset administration requires innovation from our excellent academics and collaboration with expert industry partners, like Fexco,” Professor O’Shea added.
Source: RTE News