A NEW partnership with University of Limerick (UL) is helping students to fight financial crime.
The Central Bank of Ireland, in partnership with UL, recently hosted a Hackathon event to develop innovative solutions for students to combat a rising wave of financial crime.
The event took place on the University of Limerick’s Castletroy campus and formed part of the Central Bank’s Innovation Sandbox Programme, which provides a structured environment for firms to develop innovation solutions that promote better outcomes for consumers and the financial system.
Kemmy Business School doctoral candidates and postgraduate students from the MSc in Financial Services, MSc in Risk Management, and Insurance and MSc in Accounting courses were challenged to use innovative technologies to combat financial crime.
Each student focused on leveraging the Central Bank’s data repository to meet research objectives around minimising fraud, improving frameworks and building transaction security.
Deputy Governor for Financial Regulation, Mary-Elizabeth McMunn, said: “This was an important and innovative opportunity for the Central Bank to engage with students from the University of Limerick.”
“Trust is one of the fundamental cornerstones of a well-functioning, resilient financial system. Financial crime erodes trust, and this is why we are focused on protecting the integrity of the financial system and those who use it.
“I want to thank the students who were full of innovative ideas and really enthusiastic about addressing this challenge in society. They presented insightful and ambitious demonstrations that will help shape our research agenda and the broader Innovation Sandbox Programme.”
