Banking blunders, business partnerships that fall apart, and the rise of automation technology – these are some of the most pressing issues currently making waves across the Irish business landscape. In particular, recent developments such as the Bank of Ireland’s IT “failure”, EY’s decision to abandon its grand split, and Eir’s increasing reliance on robots for its customer service operations have been causing a stir in the local business community. Here, we take a closer look at these developing stories and what they may mean for the future of Irish businesses.
Bank of Ireland is facing criticism after it failed to submit payment details for 35,000 home loans over the past two months, potentially putting mortgage holders at risk of refused credit. The error affects those whose mortgages were sold to Bank of Ireland by KBC Bank as part of their exit from the market. Multinational executives in Ireland’s lucrative aircraft leasing business could gain extended tax breaks if proposals from accountancy firm PwC are implemented. Meanwhile, the IMF has warned that the world economy is “entering a perilous phase” due to global inflation fears.
In conclusion, the recent news surrounding Bank of Ireland’s blunder, EY’s decision to abandon their grand split, and Eir’s adoption of robots highlights the ever-changing nature of the financial and tech industries. These developments serve as a reminder that even the most established companies can face challenges, and solutions can come in the form of technological innovation. As we move forward, it will be interesting to see how these companies overcome their respective obstacles in the face of an increasingly competitive market.
