GRCTC - Financial Services – Governance, Risk and Compliance - Cork

Peter Cowap
Centre Director
Tel: +353 (0)21 465 8631
Innovation in Services and Business Processes

The Financial Services Governance, Risk and Compliance Technology Centre (GRCTC) is undertaking industry- and business-focused R&D on the regulatory compliance challenges facing the financial industry. The Centre’s current research focus is on the development of semantic technologies and capability maturity models to help address these issues. 

Semantic technologies can help to answer many of the questions confronting the financial industry in the 'Age of Compliance', including:

  • what are the compliance imperatives in a regulation and where do they appear?
  • how do I perform regulatory compliance management?
  • how do I query my structured and unstructured data to identify regulatory compliance issues, measure risk, or evaluate controls? 

The GRCTC is answering these questions by developing families of interlinked regulatory and GRC ontologies, and related process and maturity models that:

  • capture regulatory concepts, taxonomies, and rules in formal semantics to enable
    efficent access to, and smarter consumption of, financial regulations; and,
  • perform data virtualisation of structured and unstructured data using semantic
    technologies to enable smart data analytics.

Member companies have access to the GRCTC’s unique market knowledge, groundbreaking R&D projects, multidisciplinary expertise, and related resources to develop new and improved products, processes, tools, applications and services in an industry that is critical to the Irish economy.

Research areas:

  • Regulatory compliance change management system
  • Regulatory compliance interpretation methodology
  • Regulatory compliance information system
  • Regulatory compliance knowledge base
  • Regulatory compliance knowledge management system

Research performed by:

  • University College Cork
  • NUI Galway
  • University College Dublin