Tag: #bank

Bank of Ireland recruiting for 100 technology roles

Bank of Ireland is recruiting for 100 technology roles to support digital projects across the Group. The roles will help drive some of the Group’s most important technology projects including new customer features on digital channels, protecting customers against fraud, and advanced data analytics.

The Bank is filling roles across data, delivery management, engineering, resilience and cyber, recruiting talent within areas such as cloud, open banking, APIs, AI and emerging technologies.

Bank of Ireland continues to invest significantly in technology across the Group. In 2023, the Bank saw an 18% year on year increase in active digital users, with over 60 enhancements to the mobile app including biometrics and additional fraud monitoring. Continued digitisation in Wealth and Insurance saw the launch of a customer portal and strong adoption of its digital advice platform.

Earlier this year, Bank of Ireland announced the largest single investment in ATMs in the last decade, with a new fleet of state-of-the-art ATMs being rolled out to all branches throughout the Island of Ireland. The Bank also announced an investment of €15 million on new fraud prevention technology.

Ciarán Coyle, Group Chief Operating Officer, Bank of Ireland said: “We continue to invest in our talent, technology and infrastructure, to ensure customers have the very best banking services. We’re currently progressing a range of innovative digital projects across the Group and we want to recruit talented specialists who can enhance the banking experience for our customers.

“Bank of Ireland offers an exciting and dynamic environment for career development. In addition to exciting projects, we provide a supportive environment with inclusive workplace policies, flexible remote work options through a network of hubs, and competitive pay and benefits. We are looking for the very best talent to join our technology team as we continue to deliver improvements for customers and colleagues across the organisation.”

New recruits will be entitled to Bank of Ireland’s suite of market-leading Family Matters policies including maternity and paternity leave, parents leave, foster care leave, early pregnancy loss, surrogacy, fertility leave, all of which are paid leave entitlements.

To apply for roles currently live, click here:

Bank of Ireland launches hybrid working hub in Galway

Bank of Ireland today launched a new hybrid working hub in Galway. The hub, based in Dockgate, Galway City provides hot desks and meeting rooms for Bank of Ireland colleagues throughout the region or visiting from other areas.

Depending on their role, most Bank of Ireland colleagues can work from a combination of home, central office locations, as well as a network of hybrid working hubs. The additional hub in Galway complements 12 other Bank of Ireland hybrid working hubs in Balbriggan, Ballycoolin, Dundalk, Gorey, Limerick, Mullingar, Naas, Newbridge, Newlands Cross, Northern Cross, Santry and Swords.

Speaking at the launch of the new Galway hub, Mayor of Galway City, Councillor Eddie Hoare said: “There are huge benefits to remote and hybrid working, with less commuting, lower costs, stronger communities, and more time for family and leisure. I have said before that the role of Galway City Council is to promote a positive-working environment to ensure maximum benefits for the people of Galway. When it is managed well, hybrid working is a win-win for companies and employees and I’m delighted to see Bank of Ireland Galway taking such a proactive approach. I’m sure this new hub will be a welcome support for Bank of Ireland staff in the area or visiting Galway from other parts of the country.”

Bank of Ireland Group Chief Executive Myles O’ Grady said: “We have transformed what it is like to work at Bank of Ireland and our new hybrid working hub in Galway is a very tangible example of that. This new hub in Galway offers workspace for those who may base themselves in the West of Ireland or other colleagues who may be travelling to Galway for business. For our colleagues, the hybrid model offers enhanced flexibility and choice, blending home and office working for a better work-life balance. For Bank of Ireland, opening flexible hubs in large regional centres means that we can attract the best talent from across the country.” 

A survey with Bank of Ireland colleagues showed that 65% feel the enhanced flexibility is providing more time to spend with family. 54% of Bank of Ireland colleagues have saved money due to the Bank’s hybrid working model, while 26% feel they have more flexibility as to where they can live.

Bank of Ireland relaunches FDI Landing Space

Bank of Ireland has relaunched its Foreign Direct Investment (FDI)  Landing Space in Stephen’s Green, following refurbishment during the pandemic. The FDI Landing Space provides companies arriving into Ireland with co-working office space, meeting rooms and event space above the Stephens Green branch in Dublin city centre.

Bank of Ireland’s FDI team has supported over 600 international companies to set up in the Irish market over the past decade. The FDI Landing Space provides hot desks, meeting rooms and boardrooms, with companies from the US, UK, EU, China, Australia, Japan and Canada availing of the space in the past.

Speaking at the launch, Kevin Elliott, Head of Global FDI, Bank of Ireland said: “Today’s announcement further strengthens our support for international companies basing themselves in Ireland. As the leading bank in Ireland for international companies, Bank of Ireland is delighted to provide our FDI Landing Space to support companies who may be considering Ireland as a base or starting to develop operations here. It has been fantastic to see FDI companies who have directly benefited from our Stephen’s Green facility going from strength to strength and announcing significant growth plans within the Irish market over the years. Following refurbishment of the space, we are now reopening again and we look forward to supporting a new crop of international companies into the future.”

 Founded in 2011, Bluecrux is a value chain consulting and technology company which has used Bank of Ireland’s FDI Landing Space in the past. Aaron O’Brien, Managing Director UK & Ireland,  Bluecrux said: “Bank of Ireland’s FDI Landing Space in Stephen’s Green has been a great asset that helped us develop our business in Ireland. I am pleased to say that Bluecrux has expanded and we currently have a team of 14 in Ireland joining our 265 global colleagues helping us grow our business. Our plans are to grow our headcount in Ireland to 50 by 2025.  We appreciate the help and support from Bank of Ireland and I would encourage any company looking to base themselves in Ireland to utilise the FDI space as you start to establish your business here.”

Bank of Ireland’s dedicated FDI team provides access to a full service offering for international companies, including electronic banking, payments, foreign exchange and treasury facilities, private wealth management and employee benefits solutions.

Bank of Ireland and Nevo Announce Finance Partnership Agreement

Bank of Ireland Finance has been announced as the exclusive finance partner for Nevo, Ireland’s first dedicated electric vehicle platform. The Nevo platform offers a comprehensive range of services for people who want to learn more about electric vehicle ownership, and those looking to make the switch to electric motoring.

The latest insights from the Irish motoring industry revealed that 26% of all new cars licensed in the first five months of 2023 were electrically chargeable vehicles (PHEV or EV), while 18% of all new cars licensed for the first time were electric – compared with 13% in the same period in 2022.

The timing of the new agreement is key also, with sales figures from the first quarter of 2023 revealing that new fully electric or plug-in hybrid electric vehicle sales by-passed diesel car sales for the very first time.

As dedicated finance provider Bank of Ireland Finance will work with Nevo to support customers as the EV transition gathers pace and Ireland enacts its Climate Action Plan aiming to achieve the Government’s stated target of having 945,000 electric vehicles on our roads by 2030. This is the latest step taken by Bank of Ireland as it makes progress across its Environmental, Social and Governance (ESG) pillars. It also signifies another funding milestone for an indigenous Irish business, following Nevo’s growth since its launch in early 2022.

Speaking at the formal launch of the partnership in College Green Derek McDermott, Managing Director at Bank of Ireland Finance said: “Our recently published Sustainability Report sets out the steps that Bank of Ireland is taking in supporting our customers in making the green transition, and this Nevo partnership is another important stage on that journey. Bank of Ireland Finance is now working with Nevo in providing consumers with the information they need to make the right choice in this area, as the sales of plug-in and fully electric vehicles continue to increase.”

Derek Reilly, Nevo General Manager added: “Nevo is delighted to partner with Bank of Ireland Finance, and we have a shared goal of supporting Irish consumers and businesses to make the transition to electric vehicles and a greener future. Bank of Ireland Finance is uniquely positioned within the Irish automotive industry, already partnered with 22 of the motor manufacturers and OEMs operating here. All of these brands and franchise dealerships are available on Nevo, which allows consumers access every fully electric and plug-in model in one location. Nevo also provides the latest electric vehicle reviews, advice and technology news to help consumers make the switch with ease”

Bank of Ireland announces 100 technology roles to accelerate digital delivery

Bank of Ireland has announced 100 new technology roles to further accelerate a range of digital projects across the Group. This follows the recruitment of 230 similar tech specialists since 2021.

The new roles – which include Cloud Platform Engineers, Cybersecurity experts, Data Infrastructure engineers, specialised Project Managers and Business Analysts – will be part of the Group’s Technology and Customer Solutions team.

Irish consumers are becomingly increasingly digital-led in their interactions with their financial services providers, and Bank of Ireland is once again expanding its digital and technology base with the creation of these new roles.  Last year, the Bank of Ireland mobile app was enhanced through the introduction of a new digital money management service which offers customers more than 40 insights into their spending.  The Bank processed 366 million contactless transactions, up 41% since 2021. Over 90% of everyday product applications are now digitised.

New hires will be involved in some of the Group’s most critical strategic initiatives. These include developing new customer features on digital channels, delivering against the Group’s Cloud Strategy, protecting customers against emerging cyber threats, and capabilities such as advanced data analytics.

Eimear Harty, HR Director, Group Technology & Customer Solutions said: “Bank of Ireland is one of the most attractive and dynamic places to build a career right now. We have some exciting digital projects underway across the Group, and we’re looking for talented specialists who want to drive improvements in the banking experience for millions of customers.

 “As well as interesting work, Bank of Ireland is a great place to grow your career. Colleagues benefit from some of the most progressive and inclusive workplace policies in the market, flexible working supported by a network of remote hubs, and competitive pay.

Banking is changing fast, it’s exciting, and these new positions will be at the forefront of advances in the sector. These new roles will further support our progress and momentum as we build a world-class, diverse technology team, delivering improvements for customers.”

Commenting on the announcement, Simon Coveney TD, Minister for Enterprise, Trade and Innovation said: “I want to warmly welcome this investment and jobs announcement from Bank of Ireland. These are high value tech jobs and I am glad that Ireland has the talent and demand for this type of expansion.”

The roles will be recruited in line with the Bank’s flexible working policy, meaning applicants will be able to work from a combination of home and central office locations, as well as a network of 13 remote working hubs.

All new recruits will have day-one entitlement to Bank of Ireland’s suite of market-leading Family Matters policies including maternity and paternity leave, parents leave, foster care leave, early pregnancy loss, surrogacy, fertility leave, all of which are paid leave entitlements.

In addition, the Bank has also recently announced the introduction of a performance-related Profit Share Scheme. This will see colleagues rewarded by April 2024 based on both the financial and operating performance of the company and individual performance during 2023.

 To apply for roles currently live, click here:

IT, Digital and Analytics (bankofireland.com)

Expanding Digital Yuan Trials is China’s Central Bank.

You’ve probably heard that the Chinese Banking System now intends to test a digital yuan. However, what does it imply for you all and your company? China has elevated the importance of advancements in digital currencies, being the country with the world’s most populous economy. The nation’s central bank published a white document on virtual currencies in 2015, which laid the groundwork for its intentions to test a virtual yuan. If you are interested in Digital Yuan, you must visit the most recommended trading platform like AI trading app.

The National Chinese Reserve Bank has been putting a lot of effort into developing a virtual yuan that can be used in various contexts, from bridge payments to internet purchases. Therefore, it’s critical to comprehend how this electronic yuan experiment may affect you if you do commerce in China or even with Chinese companies. Learn more about the Banking System of China’s intentions and what you can do to be ready by reading on.

The Advantages of Increasing Experiments in Virtual Yuan

Consider growing the digital yuan testing to reap several advantages. The first benefit is that it enables the banking system to understand better how the electronic yuan is being used. Furthermore, extending the trials will promote broader platform use and boost consumer trust. It will aid in realizing the objective of the electronic yuan becoming a world currency. Finally, the reserve bank will be better equipped to keep pace with new technological advancements and remain one step ahead of every possible rival if the trials are expanded.

The Difficulties of Expanding Electronic Yuan Trials

When extending electronic yuan experiments, you confront several obstacles. The system has to be able to manage the increasing number of transactions, for starters. For clients to enjoy using your new scheme, you must also ensure that it’s effective and reliable.

Then there are the difficulties with regulations. To prevent your business from experiencing any issues resulting from the spread of digital yuan trials, you must ensure that you are paying following the relevant laws. Last but not least, you must ensure you have always had the resources required to support the extension of electronic yuan testing.

Examining the Reasons Behind China’s Central Company’s Growth

After examining the operation of the electronic yuan and the project’s relationship with China’s banking system, let’s attempt to explain why they would do this. First, the banking system could keep a tighter check on how currency is utilized and ensure when it’s used in methods advantageous to the nation by extending the electronic yuan experiments.

Another hypothesis is that China aims to exert more influence globally. As a result, China would have a more significant influence on the world stage and could find it simpler to realize its objectives. Therefore, there is no question that the initiative is essential, regardless of China’s reasons for extending the electronic yuan testing.

Effects of the Expanding Virtual Yuan on International Industries

Although the direct impact of the spread of the electronic yuan on international businesses has yet to be determined, it is essential to note that China isn’t the only nation developing a national digital currency (CBDC).

Therefore, if China can introduce and grow its electronic yuan experiments, it may serve as a model for other nations. And this may have a significant impact on international sectors, especially those that deal with China or depend on Chinese commerce. For instance, if more nations adopt CBDCs, conventional forms of money like cash and coins may become obsolete. Along with cross-border marketing and business, this may significantly impact the banking and insurance industries. Therefore, it’s certainly something to pay special attention to!

What the Future Holds for the Virtual Yuan Growth

We should anticipate more extensive application and acceptance of the electronic yuan in the coming years, even if the specifics are still being worked out and there isn’t an exact schedule for how soon users will completely implement it.

To incorporate electronic yuan into its systems, it collaborates with various significant businesses, like Alibaba and WeChat. Therefore, even if we are still determining the precise timing or course of events, it is evident that the electronic yuan will remain, and it will only grow in popularity over time.

Conclusion

What does this suggest about the yuan’s prospects, then? The electronic yuan may assist in increasing liquidity and simplify operations for businesses and consumers. Additionally, it may make managing the president’s expenditures more straightforward.

Numerous obstacles remain to be addressed as the monetary authority develops the electronic yuan in its early phases. The digital yuan, however, may take a significant role in the worldwide finance system if the experiments are practical.

 

How to Choose the Best Bank Software for Your Business

Banks are in a constant state of change. With the current technology, banks are becoming more sophisticated and efficient. In order to compete with other banks, they need software that is reliable and user-friendly. There are many different types of banking software available on the market today. Some of them have different features or offer better functionality than others. It is important to choose the right bank software for your business based on your needs and goals.

In today’s dynamic and competitive market, it is important for businesses to have a bank software that meets their needs. The best way to choose the best bank software for your business is to do a thorough research on the different types of software available before you settle on one. Make sure that you are getting the best value for your money and not just settling with any old software.

If you are wondering which bank software is right for you, here are some tips:

  •  Consider the size of your business
  •  Consider how much time you want to spend on banking activities 
  •  Consider how much budget you have

Why is there so much confusion about selecting a bank software for your business?

There is a lot of confusion when it comes to selecting a bank software for your business. The reasons vary from company culture to the type of software that you want to use. However, there are some common mistakes that people make when choosing bank software.

  1. Mistake #1: Not considering the future of your business

The first mistake people make when choosing bank software is not considering the future of their business. When choosing a bank software, it is important to consider what will happen in the future and how you will be using it in the next few years. This will help you decide which platform would work best for your business and how much money you need to invest in it.

    2. Mistake #2: Not considering what other banks offer

The second mistake people make when choosing bank software is not considering what other banks offer. It is important to know what features are available on other platforms so that you can decide which one would be best for your needs and budget. If you don

It is important to select the right software for your business. There are a lot of banks out there and it can be hard to decide which one is best for your company.

In this article, we will discuss why there is so much confusion about selecting a bank software for your business and how you can choose the best one.

First of all, it is important to understand what banks do and what they offer before selecting a software. Banks offer different services like checking accounts, loans, investments, mortgages, credit cards etc. Different banks may also have different rates on their services so it is essential to compare them before choosing one.

What are Bank Software Companies and How Do They Actually Work?

Bank software companies  are the companies that develop banking software. They make sure that they provide a secure and efficient service to their customers. Bank software companies are in charge of developing banking software for their clients. They make sure that they have the best customer service and security features in place so that their clients can feel safe when using the bank’s services.

The banks’ core business is to provide financial services to their customers by taking deposits, making loans, managing investments, and creating savings accounts. The banks also offer other types of services such as checking accounts, debit cards, credit cards, mortgages, retirement plans and insurance products like life insurance or health insurance. Bank software companies provide a wide range of services to financial institutions. They help banks automate their daily operations and provide them with a variety of solutions that can be used in different ways.

The bank software industry is worth $61 billion and is expected to grow at a CAGR of 7% over the next few years. It consists of more than 3,000 software providers who are providing banking solutions for financial institutions globally. Bank software companies are offering an extensive range of services to banks which include:

  •  Automating processes
  •  Reaching out to new customers
  •  Managing risk and compliance
  •  Providing insights into data analytics

How Bank Software Services can Help

Bank software services can help banks to get ahead of their competition. This is because they are able to provide a wide range of services that enable banks to be more efficient and profitable. Bank Software Services is a company that provides software for financial services companies. They provide software for banks, credit unions, and other financial institutions.

The bank software provides customized solutions to the unique needs of each customer. Their solutions help customers grow their business, manage risk effectively, and make more efficient use of their resources. Bank Software Services helps their customers by providing them with technology that will help them to streamline their operations and work more efficiently. Their technology also helps the customer’s staff members to save time and has less stress on them due to increased productivity.

European Investment Bank to strengthen support for climate, connectivity, renewables, education and innovation across Ireland

The European Investment Bank is expected to strengthen backing for climate action, clean transport, renewable energy, healthcare, education, agriculture and business in Ireland, in addition to enhancing support to sectors such as energy efficiency and peatland’s rehabilitation, following the meeting of the Ireland-EIB Financing Group held at Department of Finance today.

“The European Investment Bank is a key partner to ensure that Ireland benefits from high-impact investment that unlocks opportunities, improves services and delivers a more sustainable future. It is a pleasure to welcome Vice President Kettel Thomsen and his colleagues back to Dublin for today’s meeting of the Ireland-EIB Financing Group. Discussions between Ministerial colleagues and the EIB will ensure that the EIB’s unique financial strength and technical expertise can accelerate transformational investment across the country and build on the EUR 1 billion of EIB and EIF financing for Irish investment delivered last year. Yesterday’s agreements for EUR 200 million new EIB support for capital investment in 30 schools and advisory support to cut energy bills in schools across the country shows the unique impact of the EIB in this country.”

said Paschal Donohoe T.D., Irish Finance Minister and Governor of the European Investment Bank.

“The EIB-Ireland Financing Group ensures that the EIB can back crucial investment that drives business growth, tackles infrastructure needs and delivers climate action. This week’s visit builds on the EIB Group’s enhanced recent engagement to respond to challenges related to Brexit and COVID-19. Today’s discussions with Ministers from across government will ensure that no opportunities are lost to overcome current challenges and unlock transformational new investment.”

said Christian Kettel-Thomsen, Vice President of the European Investment Bank.

The meeting of the EIB-Ireland Financing Group included the Minister for Public Expenditure and Reform Michael McGrath T.D., Minister for Environment, Climateand Communications and Transport Eamon Ryan T.D., Minister for Housing, Local Government and Heritage Darragh O’Brien T.D. and Minister of State for Agriculture, Land Use and Biodiversity, Senator Pippa Hackett.

Officials from across government and the EIB’s team dealing with Ireland also participated.

Over the course of this year the EIB expects to confirm around EUR 1 billion of new financing for projects across Ireland, including energy efficiency, increasing renewable energy generation and electricity interconnection, SME’s and farmers, innovation, improving university facilities and construction of new social housing.

The EIB-Ireland Financing Group was established in December 2016, alongside the opening of the EIB’s first permanent office in Ireland, to strengthen cooperation between the European Investment Bank and Irish government departments and stakeholders.

The European Investment Bank is Europe’s long-term lending institution and owned directly by the 27 EU member states and the world’s largest international public bank.

Over the last decade the EIB has provided more than EUR 8 billion for long-term investment across Ireland, including education, energy, transport, social housing healthcare, agriculture and water projects, as well as investment by small business and corporate research and development.

An innovative new APP to keep parents sane and CHILDREN having FUN whilst LEARNING FINANCIAL LITERACY! #Nestlums

Launching today, Nestlums is a new mobile app which offers modern money training for children through a unique, character-driven, gamified experience, without connecting to a bank account or touching any real money.

The modern digital world presents new challenges in teaching children about money. Research released today by Cauldron shows that in 1 in 4 UK families, a child had made an unauthorised purchase online. A third of parents also said that they were unsure their child has the necessary understanding of financial literacy concepts for their age. 

As families have been spending more time at home, it is likely children are also spending more time online. The Nestlums team hope the app can provide tangible support in building financial understanding, especially where digital money is concerned.

Created for people who want their children to develop good financial habits early, Nestlums harnesses the power of play to make a typically uninteresting subject engaging and rewarding. In the app, charming ‘Nestlum’ characters encourage kids to earn virtual currencies through the successful completion of real life tasks, set by parents in the app. Upon completion, children can then go on to manage, save and spend their earnings.

 

“We know that getting to grips with money can be hard for kids, especially as it becomes increasingly less visible in the modern world. My seven year old daughter barely has a clue what’s going on when I tap my card in a shop!” explains Wayne Travis, Creative Director from Cauldron. “With the growing prevalence of virtual currencies and the rise of the dreaded in-app purchase, we wanted to reinforce the idea of earning money honestly, appreciating the value of money even if you can’t see it or touch it, and not blowing it recklessly.”

 

Nestlums features two virtual currencies: ‘Gems’, which let kids unlock and play games within the app, and ‘Coins’ which represent a tally of real world money that can be honoured by parents as actual pocket money outside of the app.

 

“We designed the wise little creatures in Nestlums to tune into a child’s innate sense of empathy, and give them something to bond and play with as they progress. We’ve always said to parents: if they won’t listen to you, maybe they’ll listen to the Nestlums!” explains Fox Rogers, Design Director at Cauldron. “We are striving to create responsible financial behaviours that translate into the real world.”

 

Nestlums is the first public initiative from Cauldron, the recently re-branded creative arm of fintech pioneers Thought Machine, and has been created in partnership with BAFTA award nominated games developers Glitchers.

The app is aimed at younger children who do not yet have their own bank account or smartphone, and is intended to live on the parent or guardian’s device. Nestlums has been specifically designed as a safe space for children to learn financial behaviours. For example, the app does not connect to a bank account or card and features a secure ‘grown-ups’ section for managing a child’s tally of coins against money spent/honoured in the real world. 

“Multiple children can be set up in Nestlums, and there is no limit to the number of tasks that can be set, rewards given, or games played, allowing Nestlums to be adapted to suit every family.” says lead Game Developer, Max Scott-Slade at Glitchers. 

 

Nestlums can be downloaded from the Apple App Store or Google Play Store for a one off payment of £2.99, and features no subscription charges, in-app purchases or advertising.

For more information on Nestlums, please visit: https://www.nestlums.io