The new multi-million-euro centre is aimed at helping small and medium enterprises create jobs through the commercialisation of the centre’s cutting-edge technology.
Explaining the need for this centre, Peter Cowap, Director of the GRCTC said “the move towards ‘smart regulation’ in financial services demands greater global harmonisation and a consistent approach to the production and interpretation of regulations. However, in this rapidly changing environment, Governance, Risk & Compliance (GRC) departments in regulated financial services companies are struggling to keep up using increasingly outmoded manual and semi-automated approaches”.
Speaking on behalf of the industry partners at the launch, Richard Pike, Vice President EMEA at Wolters Kluwer said that the GRCTC “is creating building blocks in the form of software, databases and process models that will be consumable by the industry partners to accelerate our development of new products and applications”.
The centre is active seeking new industry members and is aiming to grow its membership significantly through outreach and promotion activities over the next 3-6 months.
Welcoming the launch Gearoid Mooney, Research & Innovation Manager, Enterprise Ireland, said: "Market-focused technology centres are an effective model for ensuring that the application of State-funded research in Ireland is closely coupled to industry needs. Experience to date has established that it can deliver real results for the companies, the research community and ultimately accomplish the state's objective of investing in the commercialisation of research in sectors of strategic and economic importance to Ireland."
