Brendan Burgess
Founder
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press release issued today
National Irish Bank Launches New Thinking in Banking
Customers win with Market Leading Banking Proposition
Following an intensive 12 month, €70 million change programme which sees the introduction of parent Danske Bank’s technology platform, National Irish Bank has today launched a range of initiatives designed to change the banking landscape in Ireland. Key initiatives announced include:
·Ireland’s first personal banking packages – combining current account, overdraft, credit card and eBanking
oFive new packages – three free; two fee based
·Market leading rates:
·Transaction-free banking (limited restrictions) extended to cover both debit and credit customers
·Referral Fees abolished for personal customers (first bank to do so)
·For SSIA customers, an innovative range of new Savings Accounts
oECB Tracker Deposit account (ECB + up to 1% - currently up to 3.5%pa)
oRegular Savings account (ECB + 0.5% - currently 3%pa)
oRange of Danske Managed Funds
·For Business Customers a powerful business banking proposition with market leading:-
oCash Management tools to manage working capital
oForeign Exchange Management tools
oInterest Rate Management Products
oInternational Trade Options
·New business structures based on five regions with local decision-making power
·Best internet banking service in Europe
oUnique Text Messaging service (eg confirmation of balance)
oAbility to trade stocks & shares online
·All supported by world class IT platform delivering capability for further innovation and service
·€20million investment programme with 15 new branches over the next three years
Andrew Healy, CEO, National Irish Bank, said; “Today we’re setting about changing the landscape of banking in Ireland through the launch of an alternative with substance. National Irish Bank has been transformed to become a new, agile organisation with strong ethics and values. Our focus is on the business or personal customer who wants something truly competitive and innovative. Today we’ve announced Ireland’s first product packages with a view to encouraging customers to allow us to meet all their banking needs under one roof. Many of the rates and charges we’ve introduced are the best this market has ever seen and we’re now supported by Danske Bank, one of Europe’s most technologically advanced banks. Our approach will be to deliver for customers in a way that is transparent, open and efficient. The track record of Danske Bank Group is well known and I’m confident they’ve empowered us with the formula for success. We’ll need to work hard but our goal is to become a strong, credible challenger to the established banks in Ireland who have dominated the market for too long. We’re a different and compelling alternative with real substance to our products and services”.
National Irish Bank Launches New Thinking in Banking
Customers win with Market Leading Banking Proposition
Following an intensive 12 month, €70 million change programme which sees the introduction of parent Danske Bank’s technology platform, National Irish Bank has today launched a range of initiatives designed to change the banking landscape in Ireland. Key initiatives announced include:
·Ireland’s first personal banking packages – combining current account, overdraft, credit card and eBanking
oFive new packages – three free; two fee based
·Market leading rates:
- Mortgages – from 3.3% APR
- Credit cards and overdrafts (now aligned) – below 10%
- Credit interest (1% - 1.75%) - first bank to pay meaningful rates
·Transaction-free banking (limited restrictions) extended to cover both debit and credit customers
·Referral Fees abolished for personal customers (first bank to do so)
·For SSIA customers, an innovative range of new Savings Accounts
oECB Tracker Deposit account (ECB + up to 1% - currently up to 3.5%pa)
oRegular Savings account (ECB + 0.5% - currently 3%pa)
oRange of Danske Managed Funds
·For Business Customers a powerful business banking proposition with market leading:-
oCash Management tools to manage working capital
oForeign Exchange Management tools
oInterest Rate Management Products
oInternational Trade Options
·New business structures based on five regions with local decision-making power
·Best internet banking service in Europe
oUnique Text Messaging service (eg confirmation of balance)
oAbility to trade stocks & shares online
·All supported by world class IT platform delivering capability for further innovation and service
·€20million investment programme with 15 new branches over the next three years
Andrew Healy, CEO, National Irish Bank, said; “Today we’re setting about changing the landscape of banking in Ireland through the launch of an alternative with substance. National Irish Bank has been transformed to become a new, agile organisation with strong ethics and values. Our focus is on the business or personal customer who wants something truly competitive and innovative. Today we’ve announced Ireland’s first product packages with a view to encouraging customers to allow us to meet all their banking needs under one roof. Many of the rates and charges we’ve introduced are the best this market has ever seen and we’re now supported by Danske Bank, one of Europe’s most technologically advanced banks. Our approach will be to deliver for customers in a way that is transparent, open and efficient. The track record of Danske Bank Group is well known and I’m confident they’ve empowered us with the formula for success. We’ll need to work hard but our goal is to become a strong, credible challenger to the established banks in Ireland who have dominated the market for too long. We’re a different and compelling alternative with real substance to our products and services”.
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