Over the past decade, the banking industry in Ireland has went through a period of innovation with the rise of digital ‘challengers’.

With these new market entrants came rapid development in technology designed to streamline processes and deliver better services to customers. They have also been a technological catalyst for the traditional banking sector, with the biggest banks now focusing on digital transformation and improving customer service.

In addition to the technology revolution, the banking sector has also seen a notable increase in regulatory focus. Stemming from the financial crisis and other highly publicised scandals, this focus has brought about new legislation such as the  Capital Regulations and greater focus on governance in the form of SEAR and BRRD Regulations. All banks, both ‘challengers’ and incumbents are also still under intense scrutiny for financial crime.