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Cortx SIGNED

Intelligent debt recovery platform.

Total Cost €

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EC-Contrib. €

0

Partnership

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 Cortx project word cloud

Explore the words cloud of the Cortx project. It provides you a very rough idea of what is the project "Cortx" about.

levels    charged    stakeholders    firm    financial    learning    debt    net    reduces    monthly    intelligent    documentation    commercialisation    per    creditors    american    fixed    italy    ongoing    onboarded    compliant    outcome    model    followed    analytics    transfer    local    predict    improves    expand    default    generate    governments    cortx    manager    customers    algorithms    functions    data    global    localising    time    predictive    markets    personal    countries    central    recovery    spain    administer    undertaking    automatically    france    optimising    practitioners    strategy    efficiency    pilot    running    recurring    documents    utility    ready    companies    machine    credit    performing    live    reduce    margins    vision    stage    revenue    fee    market    auditable    firms    core    upfront    north    insolvency    strategic    devising    uk    first    platform    designed    consolidating    entry    intelligence    germany    commercialise    portfolio    forecasting   

Project "Cortx" data sheet

The following table provides information about the project.

Coordinator
CEREBREON TECHNOLOGIES LIMITED 

Organization address
address: PEARSE ROAD
city: ARDARA
postcode: F94XVN6
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Ireland [IE]
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-07-01   to  2019-12-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    CEREBREON TECHNOLOGIES LIMITED IE (ARDARA) coordinator 50˙000.00

Map

 Project objective

Cortx is an intelligent debt recovery platform that automatically processes and analyses insolvency documents to administer and predict the outcome of debt recovery. Through machine learning Cortx increases efficiency, reduces default levels and improves net margins for all stakeholders in the European insolvency sector. Cortx is designed to be used by insolvency practitioners, credit management firms, and creditors, including financial institutions, local governments, and utility companies. Cortx will generate revenue through a per-case fee model, with a fixed fee charged upfront for every new case onboarded. A recurring per-case per monthly fee is also charged for the ongoing use of analytics and forecasting algorithms on all live cases in a firm’s portfolio. Commercialisation in the UK personal insolvency market will be targeted first, followed by European and North American personal insolvency markets. Our vision is to reduce the level of non-performing debt on a global scale by bringing machine intelligence to the insolvency market. We aim to be the central data manager for the insolvency market allowing real time transfer of information and documentation with a fully auditable and compliant core. The proposed project will enable us to expand into EU markets, by undertaking in-depth market research, devising a market entry strategy for EU countries, and consolidating strategic partnerships necessary for European commercialisation. It will also allow us to further develop Cortx from its current stage by optimising technical aspects and developing its predictive functions, localising it for EU markets and running a pilot with potential customers in these new markets. At the end of the project we will be ready to commercialise Cortx in our go-to-markets of the UK, Germany, France, Italy and Spain.

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The information about "CORTX" are provided by the European Opendata Portal: CORDIS opendata.

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