Bank of Ireland, a part of Bank of Ireland Group, and a commercial and merchandizing bank, is the largest and oldest bank in Ireland.
Headquartered in Dublin, it is one of the Big Four Irish banks and is serving 2 million consumer and business customers offering digital, branch and phone banking channels. It has some 9000 employees and its net income in 2022 stood at €1345 million.
The bank has a strong technology foundation today, having understood well in time the crucial role of technology in reducing costs, in becoming more efficient, and in growing the business by offering customers exactly what they are looking for.
The bank has been able to achieve a lot of cost reduction by being more efficient - like a customer can open a current account on a mobile phone in just 6 minutes. One of the bank's unique products is insurance wallets and more than half of the general insurance business is done through these wallets.
FULLY TECH-EQUIPPED
The bank today has everything that a digital system of banking requires - AI, cloud, big data and APIs. It could create an agile environment to manage data using the cloud. Al is expeditiously used to reduce costs. It also considers cloud, AI, data and APIs as the 4 basic pillars of its forwardlooking banking strategy.
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This story is from the April 2023 edition of Banking Frontiers.
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This story is from the April 2023 edition of Banking Frontiers.
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