2020 Results Announcement
Digital engagement accelerated in 2020 following
Bank of Ireland 2020 Results Announcement
new channel launches and COVID-19 behaviour change
COVID-19 accelerated decline in
traditional branch transactions
(47%)
Digital adoption has reached a tipping New mobile app driving increase in
point on key product applications¹
customer satisfaction
< 20%
31%
38%
73
54
66
23.0
19.1
12.2
> 80%
69%
62%
(4)
46
45
2018
2019
2020
2019
■Branch/ATM/Cheque (million transactions)
Supported by digital investments,
<7% of completed traditional branch
transactions now require manual
intervention
Decision to reduce branch footprint
with closure of 103 branches across
Island of Ireland, generating c.€26m in
annualised cost savings
Migration of entire Ireland and UK
ATM fleet (c.4,000 devices) to FiServ
in 2020, reducing operational risk and
future investment costs
2020
Digitised² Assisted²
2021 (f)
Digital adoption reaches tipping
point as customers move
seamlessly into digitised take-up of
key banking products
Digital fulfilment on key products
expected to be >80% by end 2021
Digital PCA journey now takes as little
as 6 mins, and c.80% of all new PCAs
can be opened using biometrics
1 Everyday banking products including: Current Accounts, Deposits, Credit Cards and Personal Loans
2 Digitised: No human engagement required to complete purchase. Assisted: human (staff) engagement required to complete
3 Customer Effort Score (CES) is a customer satisfaction survey measuring ease of use of a high-volume service or product channel
Ages 18-30
Ages 31-60
Ages 61+
■CES³ Q4 19 (old app) CES³ Q4 20 (new app)
New app launched in 2020,
increasing functionality by 50%
Regular release programme has
added 25 additional features; more
releases in 2020 than in previous 3
years
c.70% of customers digitally active
with a 26% increase in customers
registering for the new mobile app
since launch
Bank of Ireland
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