Bank of Ireland invests €370m in retail division
Bank of Ireland has invested over €370m in its retail division of the last three years across fraud protection, technology and telephony, mortgage services, app investment, payments and CRM.
In that time, the bank has launched a number of products and services including EcoSaver mortgage rates based on BER, Smart Start current accounts for children, and the Coming to Ireland advice service.
Some 2,500 consumers in 120 countries have applied for a current account through the Coming to Ireland service since its launch in April.
The bank also recently launched a new lending product to support homeowners trading down to drive better use of existing housing stock in the market.
Bank of Ireland's Retail Ireland division has sought to improve customer experiences and market leadership across key products, including its largest single investment in enhanced customer service systems and technology for frontline colleagues.
“Over the past three years, we’ve focused on building stronger relationships by listening more closely and responding for customers in meaningful ways. We’ve delivered a simpler business by removing friction and making everyday banking faster and more intuitive," said Susan Russell, CEO of Retail Ireland at Bank of Ireland.
"And we’re building a truly sustainable company, one that is inclusive, responsible and future-ready. This journey is far from over, but we’re proud of how far we’ve come and very excited about what lies ahead.”
During its current three-year strategic cycle, Bank of Ireland has improved its telephony and CRM systems for faster customer service and made more services available 24/7.
A branch upgrade programme has included refurbishments and accessibility enhancements as well as new ATMs for greater cash processing capacity, energy-saving technology and better accessibility.
The bank has also made a €50m investment in fraud prevention and protection and now has 225 employees in fraud offering round-the-clock support.
Susan Russell. (Pic: Fennell Photography)
Bank of Ireland has improved its brokers tech platform with a new credit scoring and automated document reading for accelerated mortgage decisions.
The bank is also planning to launch a new mobile app soon, and digitised many services including personal current account onboarding, statements, address changes, account name updates.
(Pic: Timon Schneider/SOPA Images/LightRocket via Getty Images)
