Big bank exits and fintech upstarts: Ireland's banking landscape is undergoing drastic change

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Digital banking and the arrival of fintech rivals have shifted the dynamics of the Irish banking market.

The moves could eventually leave just three banks in the Irish market — the two major players in Bank of Ireland and AIB, and Permanent TSB — sounding alarm bells about the state of banking competition in the country.

"Number one we view it as an opportunity. While the Ulster Bank news was probably on the cards for some time, I think people were taken by surprise at the KBC announcement," she told CNBC. The emergence and popularity of digital banking has played a significant role in altering this landscape. Earlier this year, Bank of Ireland announced plans to shut 103 branches in the country with CEO Francesca McDonagh saying the shift to online services was a major driver in that decision.

 

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banks shutting down because of the crypto tsunami currently plowing through planet earth.

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