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Bank of Ireland UK is set to invest £100m ($124m) over the coming three years to enhance its banking products and services.
The investment will support enhancement in the company’s everyday banking services, including payments, digital channels, and self-serve options, and to broaden its sustainable lending, mortgage, and broker offerings.
This comes at a key moment for Bank of Ireland in Northern Ireland, as it marks two centuries since the establishment of its first branch in Newry in 1825.
The infusion is expected to benefit the bank’s retail and SME customers with faster payment processing, improved mobile banking app functionality, and the launch of more sustainable lending products.
Additionally, the focus on digital enhancement is expected to streamline customer experiences and provide more efficient self-service options. Besides, the capital injection is set to bolster internal technology to enhance efficiency for employees.
This is anticipated to facilitate a more seamless banking experience for customers, with quicker and simpler processes.
The latest funding follows a series of investments, including a £3m outlay for ATM upgrades announced in 2024 and the recent completion of a £7m refurbishment of 13 Bank of Ireland branches in Northern Ireland.
Bank of Ireland UK CEO Gail Goldie said: “This investment is a measure of our ambition to continue to support our customers in Northern Ireland and sustainably grow our business.
“We remain a trusted financial partner to our customers because we’ve continually evolved to meet their needs and help them achieve their goals – like home ownership, starting and growing a business, and planning for the future.
“As we celebrate a milestone year and announce this significant investment, we are looking to the future with ambition and confidence.”
Last month, Bank of Ireland sold its Sharia-compliant home finance portfolio to UK fintech Offa.
"Bank of Ireland UK commits $124m to upgrade services" was originally created and published by Retail Banker International, a GlobalData owned brand.
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