Financial Services Ireland

Banking & Capital Markets

Banking Transformation

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Are you shaping your bank’s digital future or is it shaping you?

A disruptive wave is changing the face of banking globally and we are seeing the first ripples on Irish shores. Challenger banks like Revolut and N26 are capitalising, by delivering customer-centric experiences that are meeting the new consumer expectations. Meanwhile, traditional players are struggling to keep pace, hampered by legacy issues, outdated delivery models and challenges in keeping up with the rate of change. The path forward is not clear; there are multiple challenges to navigate and conflicting advice as to how best to compete.  Coupled with the empathy gap that still exists between customers and the traditional pillar banks, and we have all the elements of a perfect digital storm.


In addition to the challenger banks, the ascendency of FinTechs has eroded some of the traditional banking offerings, such as payments and lending. This disruption has been accelerated with regulatory drivers such as PSD2 and Open banking creating a new open ecosystem for financial services.

Now is the time for the traditional players to act to ensure they have a future in this new landscape. Today’s decisions will impact your organisation’s future survival. The new banking ecosystem is driving organisations to start thinking differently across a number of key challenge areas:

There is no one-size-fits-all approach to shaping your digital future. EY can support you through your digital transformation to achieve your desired operating model. If you have a question about any of the topics mentioned, don’t hesitate to get in touch.

Our Banking Transformation Leaders