This week Bank of Ireland and Unison, an online portal and Internet Service Provider owned by Independent News and Media PLC, announced their intention to join up in a new e-commerce initiative in banking and financial services. The venture will provide a series of online services 24 hours a day, seven days a week, from any location including day to day personal banking transactions, funds transfer, balance checks and bill payments. Customers can apply online and receive approval in principle for products such as personal loans and mortgages.
This is the first in a series of planned joint initiatives from Bank of Ireland and Independent News & Media PLC. The arrangement encompasses business relationships with Irish Multichannel, iTouch Ireland and Independent Newspapers (Ireland), companies connected with Unison.
Michael Branagan, the managing director of Unison, said 'I am delighted Unison will be working with Bank of Ireland in such a comprehensive manner. This deal provides excellent synergies for everyone involved but consumers will be the real winners with the ability to embrace the information society where ever they are for content, browsing, shopping; to have a flutter on the stock markets or to arrange a mortgage on-line.'
Bank of Ireland managing director Des O'Reilly commented 'This is a very significant initiative bringing considerable opportunities for both parties. The world is changing and partnerships like this create the potential to change the way people conduct commerce and live their lives. We are very excited about the possibilities.'
Bart Bonsall, the chief executive of Irish Multichannel said 'This announcement coincides very well with our roll out of broadband digital services planned for the coming weeks. We aim to bring on-line financial services into the homes of our 250,000 subscribers through digitalTV and high speed internet access.'
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