Empyrean announce new R&D Project in Cork City
Peter Burke said the investment reflects Ireland’s ability to attract high-value, innovation-led projects.
Empyrean Solutions has announced a major new research and development initiative in Ireland focused on advancing next-generation financial analytics and risk management technologies for the global banking sector.
The project will utilise artificial intelligence and machine learning to develop enhanced financial risk modelling and performance management capabilities across areas including financial planning, credit loss forecasting, loan behaviour analysis and finance intelligence insights. The new technologies will be integrated into Empyrean’s banking platform, supporting financial institutions and credit unions in managing increasingly complex regulatory and operational environments.
The initiative is being supported by the Irish Government through IDA Ireland and further strengthens Cork’s position as a growing hub for advanced financial technology innovation.
Peter Burke said the investment reflects Ireland’s ability to attract high-value, innovation-led projects.
“Empyrean’s expansion in Cork is an excellent example of the advanced, knowledge-intensive investment Ireland is committed to supporting,” Burke said. “Projects focused on research, productivity and innovation are essential to strengthening the long-term competitiveness of our economy.”
Since establishing operations in Ireland in 2018, Empyrean DC Ireland has evolved into the company’s central global R&D hub, leading multiple software development programmes and supporting the continued expansion of the company’s technical teams and innovation capabilities.
Paul Leahy said the new initiative represents a significant step forward for the company’s financial technology platform.
“By combining advanced AI and machine learning with our financial risk and performance solutions, we are helping finance leaders operate with greater insight, agility and confidence,” Leahy said. “We greatly value the support of IDA Ireland and the Irish Government as we continue building solutions that deliver meaningful impact for banks and credit unions globally.”
Michael Lohan said the project further reinforces Ireland’s reputation as a centre for high-value digital innovation and data-driven product development.
To support its ongoing growth and expanding R&D operations, Empyrean has also established a new office on Lavitt’s Quay in Cork city centre, adding to the growing cluster of international technology and innovation companies scaling operations in the region.
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