Business Irish

Saturday 17 November 2018

New mobile app from KBC as bank continue 'digital-first' approach with €1.5bn investment

78,000 customer payments made via Android Pay and Apple Pay in H1 2017

Wim Verbraeken, Chief Executive, KBC Bank Ireland and Dara Deering, Executive Director, Retail Banking, KBC Bank Ireland, said
Wim Verbraeken, Chief Executive, KBC Bank Ireland and Dara Deering, Executive Director, Retail Banking, KBC Bank Ireland, said
Louise Kelly

Louise Kelly

KBC are set to launch a new mobile onboarding app, unique to the Irish market, as part of their €1.5bn group-wide digital transformation.

Customers at KBC Bank Ireland - the group's digital frontrunner - have already become accustomed to the bank's innovative offerings.

First to market with Android Pay and Apple Pay, 78,000 customer payments have been made through either of these channels in the first six months of 2017.

The planned investment in the bank's digital capabilities between 2017 and year end 2020 is "to benefit customers in Ireland" who have shown a growth in interest in the digital products.

Figures in the bank's half year financial report show that 60pc of the current accounts opened in the first half of this year were facilitated through digital channels.

Read more: Three months profits at KBC Ireland pass €100m mark

Mobile migration is also evident, KBC Bank Ireland said, with mobile transactions nearly 10 times greater than total online transactions.

Wim Verbraeken, Chief Executive, KBC Bank Ireland said the bank's Innovation Hub in Dublin is part of the digital transformation, which "will deliver local transformation in how consumers bank".

KBC is showing strong organic growth across current accounts, mortgages, personal loans, savings and investments, as well as insurance together with KBC’s partners Zurich and Irish Life.

KBC Bank Ireland has reported profits of €102.7m for the three months to the end of June, compared to just under €40m in the same period last year.

"We are challenging consumers to find better value at KBC and benefit from our digital-first approach," Dara Deering, Executive Director, Retail Banking, KBC Bank Ireland, said.

"Innovative and intuitive banking products and services like our new mobile onboarding app and 24/7 customer contact will transform how customers bank."

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