29 May 2026
By Tom Collins
tom@TheCork.ie
Cork Business News
Empyrean Solutions, a market leader in Financial Risk and Performance Management Solutions for the banking industry, has this month announced a significant new R&D project in Ireland. This advanced analytics initiative aims to a build next-generation financial analytics and risk management capabilities.
The project will leverage advanced AI and Machine Learning techniques to deliver solutions that measure financial risk and provide insight into financial performance across several risk disciplines including financial planning, credit loss estimation, loan behaviour analysis, and finance persona-based insights. These advancements will be integrated into the Empyrean platform for banks and credit unions. This project is supported by the Irish Government through IDA Ireland.
Pictured from L – R as Empyrean Solutions announces new R&D Project in Cork City are Maeve McConnon, Head of International Financial Services, IDA Ireland, Paul Leahy, Managing Director, Empyrean Solutions, Patrick Doyle and Sean McWilliams, IDA Ireland with Brandon Meeks, Chief Technology Officer, Empyrean Solutions.
Pic Daragh Mc Sweeney/Provision
Pictured from L – R as Empyrean Solutions announces new R&D Project in Cork City are Brandon Meeks, Chief Technology Officer, Empyrean Solutions, Ireland; Maeve McConnon, Head of International Financial Services, IDA Ireland; Paul Leahy, Managing Director, Empyrean Solutions and Sean McWilliams, IDA.
Pic Daragh Mc Sweeney/Provision
Minister of Enterprise, Tourism & Employment, Peter Burke TD , said: “Minister for Enterprise, Tourism and Employment Peter Burke TD said “Empyrean’s expansion in Cork is an excellent example of the type of advanced, knowledge-intensive project we want to attract and grow in Ireland. By supporting R&D that strengthens productivity and innovation, we are building long-term competitiveness for our economy.”
Since launching operations in Ireland in 2018, Empyrean DC Ireland has served as the core R&D hub for Empyrean Solutions, leading on multiple R&D projects, and focuses on strategically scaling both team size and the number of software development projects running in parallel.
This technical innovation is critical to Empyrean’s global growth and further expanding the company’s presence in Ireland.
Commenting, Paul Leahy, Managing Director of Empyrean Ireland, said: “Empyrean is thrilled to embark on this R&D initiative with IDA Ireland. This project represents a significant step in our mission to empower the dynamic CFO. By combining advanced AI and machine learning with our financial risk and performance platform, we’re equipping finance leaders with the tools they need to operate with greater insight and confidence in an increasingly complex regulatory environment. We’re grateful for the support of IDA Ireland and the Irish Government as we build solutions that will make an impact for banks and credit unions.
CEO of IDA Ireland, Michael Lohan, said “IDA Ireland is pleased to support Empyrean Solutions as it develops next-generation AI and machine learning capabilities in Cork. Projects like this strengthen Ireland’s position as a leading location for data-driven product development and financial services innovation.”
To accommodate growth and recent commitments to R&D, Empyrean’s new office is strategically located on Lavitt’s Quay (4th Floor, The Halfmoon Building, Lavitt’s Quay, Co. Cork, T12 XT91, Ireland), in the heart of Cork City contributing to an ever-increasing cluster of companies who have chosen Cork as a place to scale and expand.