The Bank of Ireland is to shutter 88 outlets in the Republic, reducing its network from 257 to 169, while in Northern Ireland the network will be reduced by 15 from 28 to 13, according to Finextra.
The move is expected to generate €26 billion in annualised cost savings.
Francesca McDonagh, Bank of Ireland CEO, says: For many years, the trend to digital banking has been evident, with customers using branches less and less. Covid-19 has accelerated this changing behaviour, and we’ve seen a seismic shift towards digital banking over the past 12 months. We’ve now reached a tipping point in customer preferences between online and offline banking.”
She says 70% of customers are now digitally active, with a 26% increase in customers registering for the new mobile app since launch.
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Bank of Ireland first opens its doors to the public in 1783 at Mary’s Abbey, Dublin. The bank launched the first PASS ATM in 1980 and one year later issued Access Cards for the first time. The first Online Banking services were launched in 1997.
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Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
