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University College Cork and Banking & Payments Federation Ireland sign MoU to foster collaboration in financial services and technology

Monday 1st November 2021 – University College Cork (UCC) and Banking & Payments Federation Ireland (BPFI) have today signed a Memorandum of Understanding (MoU) which will see both parties collaborate on a range of initiatives in the sphere of Financial Services and Technology. Over a five year period this will encompass a host of activities including an internship programme for UCC students to gain experience at BPFI, cooperation in the design of executive education programmes, joint seminars and the dissemination of knowledge and research on critical industry issues such as Open Banking and Sustainable Finance and other special projects such as financial inclusion.

By bringing UCC’s insights and research to the BPFI’s extensive network in the Financial Services sector the parties hope to share knowledge, stimulate discussion, and provide thought leadership at a time of huge change within the banking industry.

Present at today’s signing at UCC was Minister for Public Expenditure and Reform, Michael McGrath T.D., who said: “I warmly welcome the collaboration being announced today between UCC and the BPFI on a range of initiatives in the sphere of Financial Services and Technology. UCC has been a leader in the Financial Services area for some time, and this Memorandum of Understanding will help it to provide further significant opportunities for students and also to provide leading edge research in a sector where change is rapid and constant. I believe both UCC and the BPFI will benefit from this strengthening of the working relationship and I look forward to seeing the fruits of this innovative partnership in the years ahead.”

UCC President, Professor John O’Halloran, said that the signing of the MoU between UCC and the BPFI highlights the international recognition of UCC as being at forefront of international teaching and research in finance and FinTech. 

“This is a great example of the way UCC has distinguished itself from other international universities by working closely with leaders of industry, such as the BPFI, to both provide opportunities for our students and gain additional research insights, to remain at the forefront globally,” Professor O’Halloran added

Also speaking Brian Hayes, Chief Executive, BPFI said; “BPFI is delighted to be here today to sign this MoU which will see us collaborating with UCC on a number of exciting initiatives. At a time when the Financial Services sector is going through unprecedented change, especially with new technologies emerging, our partnership with UCC is most timely. We look forward to being able to bring the benefit of UCC’s extensive knowledge and research in Financial Services to our members, supporting them as they meet the challenges that this technological era presents.”

ENDS/

Notes

About BPFI Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has some 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact:               Jillian Heffernan, Head of Communications, BPFI, 087 9016880 or jillian.heffernan@bpfi.ie

                                Eoin Hahessy, Head of Media and PR, UCC. 086 0468950 eoin.hahessy@ucc.ie  

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