Deloitte And Irish Banks Work To Develop A New Financial Services Industry Education Platform

Deloitte And Irish Banks Collaborate To Develop A New Financial Services Industry Education Platform

  • Deloitte and Irish Banks start collaborating to create a new financial platform
  • The project received support from different governmental and industry agencies

The Institute of Banking (IoB), the Bank of Ireland, AIB, Ulster Bank and Deloitte are working together in order to develop a new financial services industry education platform that is based on blockchain technology. The information was released in a joint press release on May 30.

Deloitte And Irish Bank Work On A New Education Platform

According to the press release, this new platform is going to be the first in the European financial services industry. The goal is to support the verification, tracking, direct access to and management of regulatory and other professional designations, among other things.

With this platform, it will be possible to reduce costs and risks and enhance user experience in the banking industry. It is worth mentioning that IoB members will have several benefits. Employees of different financial institutions will also be benefited.

As per the report, employees will have an improved user experience, with an easily accessible digital wallet that will provide them with all their educational qualifications, professional designations, CPD and more. The platform is also expected to enable banks to have a single view and support their competency and talent frameworks.

The initiative has also received support from the Government. The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, said that the new platform is an excellent example of how Ireland is delivering real change and getting prepared for the future.

David Dalton, the Head of Financial Services at Deloitte and lead of the EMEA Blockchain Lab, commented:

“This is a great application of blockchain technology to a vital area of banking. We are delighted to support The Institute of Banking and the banks involved in this project and look forward to the results that this initiative will deliver. This is an excellent example of innovation in banking in Ireland and our dedicated blockchain team in Dublin are excited to be supporting this project.”

Ireland became a leader in financial innovation and this project is just another example of how important is to cooperate to offer better services to users. Jane Howard, the CEO of Ulster Bank and Deputy President of The Institute of Banking, said that the new project will enable banking professionals to maximize their professional development.

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