The Financial Services Governance, Risk and Compliance Technology Centre (‘GRCTC’) is an innovative, Industry-championed research centre that makes regulatory engagement and the management of ‘GRC’ work better by reducing complexity and cost, mitigating risk and creating operational efficiencies and thereby enhancing business performance.
The GRCTC is the only research centre of its type, focused on delivering ‘smarter’ GRCTC solutions in Financial Services, ‘in the Industry – for the Industry’ and through its R&D Programme, harnessing the transformational power of pioneering and innovative approaches, such as Semantic Technologies.
Whilst the enduring GRC problems confronting the Financial Services sector show no signs of abating, the growth of the FinTech, RegTech and RiskTech domains are providing further considerable opportunities for the GRCTC to assist both indigenous and global FDI players across the ecosystem through collaboration in areas of GRC activity such as:
the unpacking of laws and regulations in comprehensible and cumulative, machine-readable and assisted implementation;
helping simplify the reporting and sharing of information, such that (commonly agreed) meaning travels with the data;
exploiting knowledge bases to enable richer inferencing, querying and exploration of data as a means to underpin and support better decision-making;
deploying innovative approaches that enhance the delivery of GRC policies and processes, including compliance monitoring and surveillance systems.
The GRCTC’s core value proposition is reflected in its capability to support Industry Partners to improve competitiveness through innovation, pivoting its focus on:
the continuing development of its world-class, innovative research at its Host, UCC and Research Performing Partners at UCD and NUIG-Insight Centre for Data Analytics;
the demonstration of the utility of the Centre’s IP and technology transfer;
targeted projects that support innovation through R&D collaboration and partnerships;
outreach events and workshops that promote networking and knowledge transfer.
The GRCTC continues to develop its global profile, actively supporting the key priorities and opportunities identified by Ireland’s International Financial Services (IFS 2020) Strategy, through the associated action plans that are committed to progressing the opportunities presented by the growth in the Fintech/RegTech/GRC domains.