Financial software firm to create 40 jobs in Cork

Empyrean Solutions announced its new R&D Project headquarters in Cork City on Thursday. At the announcement were 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. Picture Daragh Mc Sweeney/Provision

Financial software company Empyrean Solutions will create 40 new jobs with the opening of its new research and development project in Cork city.

Empyrean which is headquartered in Massachusetts will take up a new office space in The Half Moon Building, Lavitt's Quay, building next-generation financial analytics and risk management capabilities. Empyrean works in financial risk and performance management solutions for the banking industry. 

Empyrean set up its Irish operations in 2018. Ireland already served as the core R&D hub for Empyrean Solutions, operating on Penrose Quay, leading on multiple R&D projects. 

“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," said Empyrean Ireland managing director Paul Leahy.

IDA Ireland chief executive Michael Lohan said projects like Empyrean strengthen Ireland’s position as a leading location for data-driven product development and financial services innovation. 

Empyrean serves over 600 banks globally. “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," said enterprise, tourism, and employment minister Peter Burke. 

Empyrean's new offices were previously used by Apple but were purchased by developer John Cleary in January in a deal valued at around €30m, and underwent extensive upgrade for the new tenant.