Central Bank of Ireland & Cluster Innovation Workshop – 24th January 2024

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On Wednesday 24th of January 2024 @ 10AM our cluster will host an innovation workshop, facilitated by Dr Patrick Lynch of SETU / RIKON. This workshop will take place in CluneTech, IDA Business & Technology Park, Ring Rd, Kilkenny, R95 ETN5. The aim of the workshop is to provide cluster members with an opportunity to shape the FTCoE facility and strategy. In addition, we intend to develop a collaborative response to Central Bank of Ireland Consultation Paper on Innovation Engagement.

The day will commence with an address from the Central Bank of Ireland Innovation Hub. The Innovation Hub allows FinTech firms to engage with the Central Bank of Ireland (CBI) outside of existing formal regulator/ firm engagement processes. The consultation paper sets out the CBI ambition to implement an innovation sandbox with a thematic approach.

Save your seat today by emailing: in******@fi********.com 

Through this consultation paper the CBI Innovation Hub seeks to:

  • Deepen their understanding of innovation in the financial services sector, so that they can better understand the opportunities and risks for consumers and the economy.
  • Better inform their regulatory approach, allowing them to ensure that their regulation is aligned with a well-functioning financial system based on good levels of competition and innovation.
  • Embed a regulatory culture in fledgling and fast growing firms – to ensure they are properly prepared for the responsibilities that come as regulated firms, as well as properly run once authorised.
  • Better explain to innovative firms what being regulated entails – so firms can build regulatory requirements and safeguards into their early stage development.

The consultation period is open for responses from 8 November 2023 to 8 February 2024. Learn more here: https://centralbankofireland.qualtrics.com/jfe/form/SV_cCFY59HN0MB556C

The second part of the day will involve an Innovation Workshop facilitated by Dr Pat Lynch of SETU.

Our goal is to respond to the CBI Consultation Paper Questions

Q1. What is your feedback on the enhancements underway with the Innovation Hub? Are there other areas that should be developed?

Q2. What is your feedback on the proposal to establish an Innovation Sandbox Programme? Will the proposal support the Central Bank in meeting our overall objectives, including the needs of consumers and the wider economy?

Q3. What is your feedback on the operating model of the Innovation Sandbox Programme?

Q4. Are there specific themes or areas of innovation that the Central Bank Innovation Sandbox Programme should address?

Limited capacity – save your seat today by emailing: in******@fi********.com 

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