G ROW I N G YO U R BUS I N E SS
GROWTH AND OPPORTUNITY:
Showcasing the Financial Services Cluster in South-West Ireland “The IFS sector has developed to a point where it is recognised as an important component of the Irish economy, and the nature, scale and complexity of activities carried out here is broader, more diverse, and more geographically spread across the country than ever before.” (Ireland for Finance Action Plan 2021 - Building on Resilience) IRELAND FOR FINANCE is the Irish Government’s strategy for the development of Ireland’s international financial services sector. The plan identifies three strategic priorities: Sustainable Finance, Diversity and Regionalisation. Annual action measures are developed with input from stakeholders and for 2021, these measures are grouped under four pillars, where stakeholder activities will focus, namely: Operating Environment; Technology and Innovation; Talent; and Communication and Promotion
“Regional locations in Ireland offer a viable alternative to Dublin for providing international financial services, whether as a primary site or as a second site that is complementary to operations in Dublin. Over a third of international financial services jobs are located in areas outside Dublin.” (Ireland for Finance Action Plan 2021 - Building on Resilience)
28
Ireland’s South-West region is home to a significant and growing cluster of international financial services (IFS) companies representing multiple sub-sectors of financial services (FS), with particularly strong activity in the areas of asset management, fund administration and fintech. The sector is supported by a robust enabling environment which includes a significant number of leading audit, accountancy and legal firms. The sector has grown steadily over the last 10 years and is supported by a strong talent pipeline of graduates from the two regional universities, MTU and UCC. Furthermore, the long-established ICT cluster and the growing cyber cluster in the region provide an ideal environment for complementary activities and exchange of expertise in areas that will dominate the future of the FS industry, including AI, cybersecurity and regtech. On 5th November, Cork Financial Services Forum is hosting a sector-focused event, as part of a commitment to the Ireland for Finance Action Plan 2021. The event will showcase some of the many successful financial services companies operating in the South-West and will highlight certain areas where the sector is particularly strong and growing, such as funds and fintech.
