Deals, deals, deals: A look back on some of the significant moves of the last year

Established financial services firms have been acquiring up and coming fintechs in an effort to import innovation into their culture and practices

Ireland is now home to many global payment players shaping the industry.

The financial sector in Ireland has changed dramatically in recent years. The departure of Ulster Bank and KBC this year took much of the attention, leaving just three pillar banks remaining, notably Bank of Ireland, AIB and Permanent TSB. This is not a first, with other banks retiring over the past decade, notably Bank of Scotland/Halifax, Danske Bank (National Irish Bank) and Rabobank. And, of course, the collapse of Anglo-Irish Bank and Irish Nationwide Building Society during the financial crash.

The changes in the banking landscape have also been magnified by the growth of payment companies and neo-banks in Ireland. The growth of this sector has given rise to a host of companies not known before, including online payments, cross-border transactions, payment gateways, digital banking, open banking, digital remittances, regtech, blockchain and digital assets.