Whitepaper

The Irish Banking Ecosystem, Interconnection and the Speed of Change

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Irish banks are operating in a rapidly changing market and must embrace new technologies and business models to keep pace and to stay ahead of energetic new entrants, according to this Finextra-Equinix® whitepaper.

Many Irish banks are adopting a cloud-based strategy to cope with new processing demands and to extract value from the increasing amounts of data, constantly generated from a myriad of remote devices. ‘Fast, agile and secure’ is the order of the day in order to join up the dots in the emerging ecosystem and be a frontrunner in the development of dynamic new products and services.

Highlights

  • Technological innovation in Irish banking is happening under intense regulatory oversight
  • Traditional banks are facing new competition from Open Banking and real-time payments platforms
  • Consumer expectation and demand for new digital payment services are increasing
Fintech has now moved centre stage in financial services and we are seeing an increasing interest in collaboration between the start-up fintech firms and the more established domestic and international bank.
Richard Walsh
BPFI’s head of digital and payments strategy

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