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Minister launches new €3m research project in Killorglin

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ANNOUNCEMENT: Minister for Finance, Public Expenditure and Reform, Paschal Donohoe TD was at Fexco Headquarters in Killorglin to launch FINTECHNEXT. From left: Dr Ciar‡n Seoighe (Deputy Director General, Science Foundation Ireland), Denis McCarthy (CEO Fexco) and Professor John O'Halloran (Deputy President UCC). Photo: Valerie O'Sullivan

Minister for Finance, Public Expenditure and Reform, Paschal Donohoe TD was in Killorglin on Friday last to launch FINTECHNEXT – a new €3 million research project which will run for four years from 2019 to 2022.

The project is a financial technology (fintech) research collaboration between technology company Fexco, University College Cork (UCC) and Science Foundation Ireland (SFI).

The €3 million investment in the project will be provided by Science Foundation Ireland and Fexco in equal parts, with critical knowledge and expertise provided by researchers at the Cork University Business School (CUBS) within UCC.

The collaboration will see a team of 12 newly appointed researchers led by UCC, partner with Fexco in the delivery of applied and funded research dedicated to disrupting three key fintech verticals; Treasury and FX, Digital Taxation, and Corporate Asset Administration.

The research team will be co-located between Fexco Headquarters, where the company already employs over 1,000 of its global 2,300 strong workforce, and UCC. This collaboration, led by Professor Philip O’Reilly of CUBS, aims to stimulate the joint development of innovative solutions that will put Ireland on the world map as a fintech innovation hub. In July 2018, Fexco announced plans to recruit 175 additional high-skill staff to expand its research, development and information technology capabilities.

“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 of Fexco,” Denis McCarthy, CEO Fexco, said.

“Fexco will enjoy a dual benefit from this project, the first is the opportunity to be at the forefront of identifying new trends and technologies that could create new markets for our business and the second in welcoming a team of world-renowned research experts to the organisation. Fexco’s staff, including myself, stand to learn a huge amount from them, and I want to wish all of the partners in FINTECHNEXT every success.”

 

 

 

 

 

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LOCAL GOLD:

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LOCAL GOLD: Terrie O’Shea, founder and owner of Killarney-based business Sorella Berries, celebrating her Gold award win at the Blas na hÉireann Irish Food Awards held in Dingle last week. Her hand-crafted chocolate covered strawberries secured the top spot in national competition, earning recognition for the local food producer on the national stage.

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Grady demands Killarney traffic review

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Killarney councillor Martin Grady has called for an urgent review of traffic management across the town following severe delays along the Muckross Road during the morning rush hour.

Constituents living along Muckross Road, Woodlawn, and outer Muckross areas raised serious concerns with the local representative, reporting that motorists now face delays of over 30 minutes to travel from Flesk Bridge or Woodlawn Cross into Killarney town.


The situation is causing major disruption for parents doing school runs and commuters traveling to work every morning.


“This level of congestion is simply not acceptable,” said Cllr Grady. “I have been contacted by constituents who are experiencing significant delays every morning, with parents trying to get their children to school and people trying to commute into work being caught in traffic for prolonged periods.”


Cllr Grady urged Kerry County Council to look closely at the operation and light sequencing along the route.


“I am calling for a review of the traffic situation along the Muckross Road, including the operation and sequencing of the traffic lights and whether there are any other obstructions or traffic management issues contributing to the delays,” he said.


He stressed that the gridlock is not isolated to one approach road, but affects the entire urban area as population and traffic volumes continue to rise year on year.


“But this issue goes beyond the Muckross Road. Killarney as a whole is experiencing increasing levels of traffic congestion across the town. The people of Killarney have been suffering with traffic for far too long, and the situation is getting worse,” Cllr Grady said.


“Our population is growing and traffic volumes are increasing year on year. We need to look at the bigger picture and develop a proper traffic management plan for Killarney. We need to identify where the problems are, examine how traffic is being managed across the town and put measures in place to improve traffic flow. The current situation has gone beyond what is acceptable for residents, commuters and visitors to Killarney.”

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