Financial Services Innovation Centre
Based on the Business Information Systems group's successful track record of working closely with financial services companies and its record of new product development and research expertise, FSIC plays a pivotal role in stimulating innovation in the financial services sector.
The Centre provides a resource for global financial services companies to participate in cutting-edge innovation and development that will have global impact. The Centre also allows participants to share information and expertise, while also keeping abreast of the latest development in the financial services software market. Innovation is unpredictable and revolutionary, the Centre aims to reduce this uncertainty and exploit the power of innovation through the development of cutting edge software solutions.
The Centre provides a collaborative environment to develop innovative solutions with a rich partnership between university staff and the financial services sector. Sustainability of the Centre is ensured through highly focused innovation and development - seeking solutions for the real IT problems faced by Financial Services institutions.
FSIC completes joint research study with Merrill Lynch RDI Centre on Innovation Awareness of Financial Services Companies
Although innovation is widely acknowledged as a strategic imperative, it still represents a major challenge for many financial services organisations. There is also a perception amongst many financial services organisations that innovation is an informal process that cannot be managed.
These are just two of the findings of a joint research collaboration entitled “Innovation Awareness of Financial Services Companies Operating in Ireland” between the Financial Services Innovation Centre (FSIC), at University College Cork, and the Merrill Lynch Research Development and Innovation (RDI) Centre.
The research study examined the innovation awareness of financial services companies operating in Ireland and also evaluated the use of innovation frameworks and best-practice models in the Irish financial services sector. The study was carried out with the participation of eight financial services companies and supplemented by three non-financial services companies acknowledged as leaders in the innovation space.
Irish Examiner article (10th July 2009)
