Opportunities for expansion of technology sector to be explored in Derry

The City of London Corporation’s Policy Chairman, Chris Hayward, visited Derry this week to strengthen business links between the two cities and attend the launch of the Matrix NI report. 

Matrix, Northern Ireland's Science and Industry Advisory Panel, launched a new report which explores opportunities for the application of regulatory technologies (RegTech). The report found that Northern Ireland is strongly positioned to help businesses navigate an increasingly complex regulatory environment based on its skilled workforce and academic institutions. 

The report suggests that this can be achieved through the development of innovative solutions to streamline compliance processes, enhancing transparency, while mitigating any risks in the financial services sector. A key element of the Chairman's visit was to discuss these findings and how to act on its recommendations. 

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The Chief Executive of Derry City and Strabane District Council, John Kelpie, welcomed Chairman Hayward and his delegation to the city where they discussed shared interests in business, innovation and culture. They also discussed the Council's work to implement an ambitious suite of innovative City Deal projects which should create jobs as well as attract investment and growth to the North West. 

Kelpie said this meeting provided an invaluable opportunity to promote the RegTech proposition and discuss how to harness the city region's unique cross-jurisdictional location and partnerships between the two cities. 

The City of London Corporation’s Policy Chairman, Chris Hayward was in the city yesterday for a series of engagements, including a meeting with RegTech Supercluster representatives and senior officials at Ulster University.

He said: "We have extremely strong links with the City of London and it’s hugely encouraging to see Mr Hayward and his delegation taking time out of their schedule to visit our city and meet with industry leaders to hear about the excellent work that is being done here in terms of attracting global investment and helping home-grown success stories compete internationally.

"The City of London Corporation is a global financial and professional services capital that drives the UK’s economy and the sector is of huge importance to this region."

Hayward met with RegTech Supercluster representatives to hear about the work being done to develop the sector in the region. The delegation were also updated on the 'Innovation Challenge' programme that was launched last year to encourage innovators to develop creative technology solutions to tackle cross border regulatory and compliance challenges. 

In addition to this, the delegation met with senior officials at Ulster University as well as representatives from the Derry Chamber of Commerce.