Addressing Regulatory Challenges through Applied Research
Capital Edge enters the GRCTC consortium as industry member
20 August, 2015
Capital Edge is pleased to announce its membership of the GRCTC technology centre. The Governance Risk and Compliance Technology Centre (GRCTC) is a multi-institutional, industry-led research centre hosted by University College Cork (UCC), and academically partnered with the National University of Ireland, Galway (NUIG) and University College Dublin (UCD). The Centre was established in March 2013, as part of Ireland’s Technology Centre Programme, with 5 years of research funding from Enterprise Ireland and the IDA. The GRCTC is a centre of excellence for innovation and research in semantic technologies for Governance Risk and Compliance in Financial Services.
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 focus is on the development of semantic technologies and capability maturity models to help address these issues. The GRCTC is focused on the delivery of semantic technology solutions for GRC (Governance, Risk & Compliance) to support the volume, variety and velocity of financial industry regulatory challenges.
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?
Capital Edge will work with the GRCTC research team to answer the above 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 efficient 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.