What are Bank of Ireland's key investment areas for 2023-2025?

Bank of Ireland is investing in fraud prevention, technology upgrades, customer service, and mobile app development.

What new banking products has Bank of Ireland launched?

New products include EcoSaver mortgages, Smart Start accounts for youth, and a 'Coming to Ireland' service for new residents.

How is Bank of Ireland improving customer service and security?

They are upgrading telephony and CRM systems, implementing voice biometrics, and investing €50m in fraud prevention.

Home / Business and Economy / Bank of Ireland Invests Millions in Future Tech

Bank of Ireland Invests Millions in Future Tech

16 Dec

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Summary

Over €370m invested in Retail Ireland division from 2023-2025.
New products include energy-efficient mortgages and accounts for children.
Significant investment in fraud prevention and customer service systems.

Bank of Ireland Invests Millions in Future Tech

Bank of Ireland has allocated more than €370 million to its Retail Ireland division as part of its ongoing 2023-2025 strategic plan. These substantial investments are directed towards critical improvements in fraud prevention, technology infrastructure, telephony, mortgage services, mobile app development, and customer relationship management.

The bank has launched innovative products, such as EcoSaver mortgages that offer preferential rates based on a home's energy efficiency. Additionally, the Smart Start account caters to young individuals, while the 'Coming to Ireland' service facilitates current account applications for those relocating. This initiative has already seen significant adoption from international customers.

Further enhancements include a new lending product supporting homeowners downsizing and investments in branch refurbishments and a new ATM fleet. The bank has also bolstered its payment services with SEPA Instant transfers and advanced security measures, alongside a dedicated €50 million investment in fraud prevention with a 24/7 specialist team.