Bank of Ireland 2020 Interim Results
Transformation delivering customer and cost benefits
•
Key milestones delivered
New mobile app deployment;
+19 point improvement in
mobile app Customer Effort
Score since launch
Enhanced verification capability
using embedded third party API
technologies
New card payment technology
including migration of 2m
customers
New relationship management
tools (Life Goals, Financial
Wellbeing)
Committed milestones
on roadmap
Fully digitised mortgage
application process (Q3 2020)
New digitised small business
lending proposition (Q4 2020)
Digital payments for mobile app
(Q4 2020)
Refreshed 'Pay to Mobile' peer-to-
peer payment service (Q4 2020)
>85% of day-to-day product
journeys digitised (Q1 2021)
Card control features for mobile
and online customers (Q1 2021)
Bank of Ireland 2020 Interim Results
Delivering market leading digital platforms in Wealth and Insurance
Favourable Irish demographics, growing pension demand, increased deposit
base and strength of our franchise provide significant opportunity
Group
Pensions
Launch of MyPension365;
first customers on-
boarded in H1 2020
Full digitisation and
automation of end-
to-end processes for
advisers and employers
90% reduction in on-
boarding times from 10
weeks to 5 days
Customers able to
manage personal pension
in real-time using mobile,
tablet or desktop
Forecast growth in defined
contribution assets of c.8%¹
per annum
1 Thinking Ahead Institute research Global Pension Assets Survey 2020
.
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Digital Wealth and
Insurance Advice
Platforms
Roll-out of digital advice
platform commenced
Allows end to end digital
sale and fulfilment; all
sales to be migrated onto
platform in H2 2020
Digital Insurance Wallet
launched in Dec 2019
providing customers with
choice of provider, quick,
easy purchase of general
insurance
Self-service for product
adjustments and efficient
renewal
Portal and
o broker, adviser
connectivity
Launch of Broker portal
provides secure access
point for external and
internal advisors
Allows customers to
access self-service
options and policy
information
Enables seamless, digital,
end-to-end fulfilment
experience for brokers
and customers
41% of insurance sales
through digital wallet in
H1 2020
Bank of Ireland
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