AIB opens digital banking store

AIB has opened Ireland’s first digital banking store in Dundrum Town Centre, Dublin, aimed at developing its customers’ use of online services.

Launched by Pat Rabbitte, the communications minister, the Lab (“Learn About Banking”) will encourage AIB customers to make greater use of digital banking.

“We need the banks to do more, in particular, we need to have more credit flowing to the SME sector that is an absolute priority in terms of getting people back to work,” said Mr Rabbitte.

About 83m visits are made to aib.ie each year, with 806,000 customers using online channels. Of these, 318,000 use the mobile app. Each day, AIB customers transfer €700m in funds using online channels, in more than 220,000 transactions.

The Lab will seek to boost AIB’s online traffic, with almost half of the bank’s customers yet to use online services. The Lab will be open to the public seven days a week, in line with Dundrum’s retail opening hours.

“Our mobile and online banking offerings are market-leading, yet almost half our customers have yet to embrace digital banking,” said AIB’s director of personal, business, and corporate banking, Bernard Byrne.

“With Dundrum Town Centre’s annual footfall of 19m people, the Lab will give a huge consumer base an insight into the benefits of marrying technology with banking.”

The store will showcase digital banking and take on board feedback on customer requirements and preferences for future technologies.

Customers can experiment with product browsing, talk with mortgage advisers via video booths, and get tailored advice on SME products, new mobile innovations, and self-service banking.

Don Nugent, the director of Dundrum Town Centre, said: “We are very excited about the opening of Learn About Banking. This is another innovation for both the bank and for Dundrum.”

Dundrum has more than 100 retail outlets, and over 40 restaurants, cafés, and bars. In the coming weeks, AIB will use the Lab to unveil a series of personal finance innovations.

“Learn About Banking is a live research centre where customers will have one-on-one support and advice to learn about new banking technologies,” said Mr Byrne.