Thursday 22 August 2019

BoI puts €5m into financial well-being push for customers

 

Bank of Ireland's new financial well-being website has received more than 30,000 visits and more than 15,000 financial health checks have been completed.. Stock photo: Getty Images
Bank of Ireland's new financial well-being website has received more than 30,000 visits and more than 15,000 financial health checks have been completed.. Stock photo: Getty Images

Fearghal O'Connor

Bank of Ireland has invested €5m into a new financial well-being programme for its customers.

Since the programme launched last month a new financial well-being website has received more than 30,000 visits and more than 15,000 financial health checks have been completed.

The new website is part of a wider programme initiated by the bank aimed at helping as many as 200,000 of its customers manage their money and plan for the future.

The bank has appointed a new head of financial well-being, Shane Quinlan, who told the Sunday Independent the programme had been designed "to support the financial capability, literacy and confidence of our customers with an investment of €5m in initiatives in 2019.

"Financial well-being is a person's ability to confidentially manage money and plan for the future, regardless of how much money they have," he said. "Through our programme which will run for five years initially, we want to help consumers take more control of their daily finances and support better financial decision-making for themselves, their families, and their businesses." Quinlan said that with 1.7 million personal and 200,000 business customers that "if we improve the financial well-being of our customers we believe this can make a real impact nationally".

The programme includes tools for consumers and businesses to check what the bank described as "their own financial well-being score". Customers who check their own score will also be able to sign up for seminars and one-to-one financial adviser meetings, it said.

The programme would also include a significant expansion of the Bank of Ireland Youth Financial Literacy Programme, offering the programme to every primary and secondary school student in Ireland, as well as the establishment of a "financial well-being lab" for piloting and road testing new initiatives.

Sunday Indo Business

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