Bank of Ireland mobile banking log-ins up 5%

Transactions at bank's ATMs declined by 6%, new data shows

Bank of Ireland customers made a total of 125.5 million contactless payments between April and June. 

Log-ins to Bank of Ireland’s mobile banking app increased by 5% during the second quarter of this year, compared to last year, while transactions at its ATMs declined by 6%, new data from the company shows.

May 1 was the busiest day for app engagements for the company at 1.49 million, while May 29 was the busiest day for point-of-sale transactions by the bank’s customers, with more than 2.8 million. Overall, point-of-sale transactions between April and June were flat year-on-year, while e-commerce contactless transactions grew by 5%.

There were a total of 125.5 million contactless payments during those three months. There were 11 million Sepa instant payments.

In March, Bank of Ireland, along with AIB and PTSB, rolled out Zippay — a mobile-to-mobile digital payments option similar to a feature already offered by Revolut and Monzo. The company did not release data on the number of Zippay payments made during the second quarter.

Chief information officer at Bank of Ireland Keith Kiernan said “customer expectations continue to evolve, with digital engagement growing year on year and card-based payments becoming an increasingly important part of everyday banking”.

“We are making significant investments in technology to enhance customer experiences and strengthen our capabilities across instant payments, AI, cyber resilience and digital services.

These figures come as Bank of Ireland’s chief competitor AIB continues to roll out a revamped version of its banking app.

AIB said its new app gives customers easier access to payments, improved visibility of recently paid and upcoming payments, enhanced security, access to savings accounts within the app, as well as the option to invest money through its AIB Life hub.

The bank added it was planning on bringing features such as enhanced capabilities for children and their parents to ensure they have ongoing oversight and control, as well as savings pots and spaces early next year.

While both AIB and Bank of Ireland are making gains in the digital banking space, they are still well behind Revolut which has 3.4 million customers across Ireland.