Future of Finance
Offering futurefocused education for the evolving financial sector
With a worldwide reputation as a leading global financial services centre, professionals must stay ahead of the sector’s fast-paced changes through learning.
As Ireland is a significant player in the global financial landscape, it is perhaps no surprise that the leading Dublin-based institution
IOB is pioneering a financial services standards-based national skills framework, boosting development and education in the sector.
Education and empowerment
IOB is a recognised college of the University College Dublin. It has a professional network of 33,000 people and 38 corporate members, including many of Ireland’s top banking funds and financial services organisations.
“Our mission is to educate, enable and empower our professional community,” explains Chief Executive Officer, Mary O’Dea.
Initiative is released in phases
Their aim is to map the skills essential to financial services and allow individuals to explore related functions in the industry and then strengthen their skillset with the right education and training options. The first part of this initiative will launch in the latter part of June, focused on the retail banking sector, with more sub-sectors being added in the coming months.
“We are very excited because we think it will be an absolute gamechanger both for education and professional development within the industry in Ireland,” adds O’Dea.
Tailoring courses to suit needs IOB offers working professionals
a wide range of degree-level study programmes available online, on demand and some in person. During 2023/2024, almost 7,000 people enrolled on its accredited programmes.
“We support financial services professionals to gain in-demand skills and expertise with over 40 UCD accredited programmes,” says O’Dea.
Listening to members and tailoring courses to suit requirements means learners can choose to block out a week or two in their diaries for the executive education programmes, such as the Certified Bank Director programme and the Certified Investment Fund Director programme.
Currently trending courses
Education and upskilling are integral to the success of the sector, which continuously undergoes fast-paced change. For example, there is a huge on-demand need for learning modules around sustainable finance and artificial intelligence.
Last year, a bespoke and innovative programme was launched to support compliance professionals as they lead the adoption of sustainable finance.
To meet the needs of the AI explosion, new on-demand courses have been introduced, including a detailed skills certificate in AI and, for more technical learning needs, there is a course on AI modelling.
Ireland’s skilled workforce fuels fintech and financial services growth
Today, the financial services industry is a major contributor to the Irish economy, employing more than 103,500 people, spread across a uniquely diverse range of sectors.
In the space of just three decades, Ireland has developed into a world-class financial services hub. We are the leading global centre for aircraft leasing. Nearly half of Europe’s cross-border life insurance is written from Ireland. We are the third-largest funds domicile globally. Ireland’s ability to add value for financial services firms and help them to achieve success is proven.
Digitally powered fintech growth
The outlook for growth in jobs and activity in the sector is positive. Firms are navigating global economic uncertainty, but the last six years have demonstrated incredible resilience. Key growth drivers, like the digitalisation of the sector, remain unchanged. Customers and clients of financial services firms expect a strong digital offering, and that has meant that every firm in the industry has now become a fintech firm as they seek to deliver for their customers.
Ireland’s workforce, with its deep pool of knowledge, skills and technical expertise, is well placed to help firms of all sizes achieve their fintech ambitions. This includes harnessing the extraordinary potential of AI, with its capacity to accelerate innovation and further enhance customer offerings and experiences.
Ireland poised for fintech leadership
Similar strategic opportunities attach to the EU Savings and Investment Union, which aims to empower European consumers with more choice and flexibility to deploy their savings across EU borders. Ireland can be at the centre of this project because of the breadth and capability of the firms located here.
This strong track record of delivery will help to underpin future investment by the sector in Ireland. Other jurisdictions are hungry for this investment, and we must remain laser-focused on our competitiveness as a jurisdiction. We believe a National Fintech Innovation Hub is a critical next step, offering space to grow firms at all stages of their fintech journey. Ireland can be a centre of excellence for collaboration and knowledge-sharing, and the Fintech Hub will be vital in enhancing Ireland’s competitiveness and building on the progress that has been made.
Audrey Crummy Deputy Director, Financial Services Ireland Group, Ibec
Mary O’Dea CEO, IOB
Sponsored
Ireland’s fintech innovators on global stage at Money 20/20
Ireland’s fintech sector has emerged as one of the country’s most dynamic and successful forces in recent years.
With financial services exports reaching €22.19 billion in 2023 (CSO), the sector continues to make a significant contribution to the Irish economy — providing high-value employment, developing specialised skills and delivering global innovation.
State of Ireland’s fintech ecosystem
This growth has been fuelled by a uniquely supportive ecosystem, combining a strong talent base, regulatory expertise and a thriving technology sector. The result is a world-class indigenous fintech industry, with Irish-owned companies tackling some of the most complex global financial challenges.
Showcasing Irish fintech advancements
Enterprise Ireland is proud to support more than 400 innovative Irish financial services and fintech companies. In June, many of these firms were showcased on the international stage at Money 20/20 Europe, held in Amsterdam from June 3–5.
This year marked a major milestone, as Enterprise Ireland hosted its firstever Irish Pavilion at the event — a key moment in spotlighting the country’s fintech capability. Participating companies included ID-Pal, an AI-driven identity verification provider; CleverCards, which enables configurable payment cards for streamlined expense and benefit management; and Know Your Customer (KYC), which supports global institutions with digital onboarding solutions.
EngageHub, Corlytics, Continuum and Facilipay also represented Ireland at the event. These companies joined more than 2,000 organisations and attendees from over 100 countries, with many Irish firms participating in expert panels and discussions on major trends such as AI and generational shifts in financial behaviour.
Fintech driving Irish exports
Minister of State for Financial Services, Robert Troy, attended the event and took part in a panel discussion at the Irish Pavilion, further underlining the importance of the sector to Ireland’s future economic strategy.
Participating in global events like Money 20/20 is central to Enterprise Ireland’s strategy Delivering for Ireland, Leading Globally (2025–2029), which aims to accelerate sustainable growth for Irish businesses in international markets. Our long-term goal is for Irish exporters to be the primary engine of economic growth — and our fintechs are leading the charge.
For more on fintech supports, visit Enterprise-Ireland.com.
Why community loans shouldn’t require personal guarantees
Across Ireland, volunteer trustees and staff are the backbone of our social fabric — running community centres, sports clubs and vital social enterprises.
Yet, despite the enormous value they deliver, many are being asked to put their personal financial security on the line just to secure a loan for their organisation. It’s a practice that must end.
Ending unfair loan guarantees
As a social finance provider, we are on a mission to eradicate the use of personal guarantees in community-based lending. We’ve witnessed firsthand how this outdated requirement is not only counterproductive but deeply damaging. In one case, we refinanced a loan of over €500,000 that had been underpinned by a single individual’s personal guarantee. In another case, an employee of a not-for-profit was prepared to offer their home as collateral. This is not just unsustainable — it’s unjust.
We provide straightforward finance for social good.
The human cost of personal guarantees
Personal guarantees place an unacceptable burden on individuals working in an already heavily governed sector. The risk of losing personal assets, coupled with the stress of financial liability, is a serious mental health concern. It deters people from volunteering or taking up leadership roles — precisely the kind of community engagement Ireland needs more of, not less.
Our approach is different
We provide straightforward finance for social good. With dedicated Client Relationship Managers who live and work in the communities they serve, we bring local knowledge, understanding and a commitment to fair, fast and flexible lending. From initial enquiry to loan drawdown, we’re here to guide, support and empower.
We believe that no one should be asked to mortgage their peace of mind to fund community impact. If you are currently being asked to provide a personal guarantee, or have done so in the past, we want to hear from you. Together, let’s rewrite the rules of community finance — and remove this unnecessary barrier to progress and participation. Building stronger communities should never come at the cost of personal sacrifice.
Charting a new course for financial services in Ireland
Ireland’s financial services sector has experienced significant growth and transformation in recent years, driven by the Government’s strategic initiative, Ireland for Finance.
Launched in 2019, the whole-ofGovernment Ireland for Finance strategy aims to position Ireland as a leading global hub for specialist international financial services. Employing over 60,000 people, with a quarter of those outside of Dublin, it is a key sector for the economy.
Ireland’s financial talent advantage
The broader financial services sector in Ireland employs well over 100,000 people, and one which I take significant pride in overseeing as Minister of State with Responsibility for Financial Services, Credit Unions and Insurance.
Ireland’s talent pool is a cornerstone of its financial services success. The sector benefits from a highly educated workforce, bolstered by initiatives that expand access to in-demand skills like AI, data analytics, reg-tech, fintech and sustainable finance. The addition of internationally experienced professionals adds global perspectives, enriching the domestic talent landscape. The talent on offer from around the island is unmatched, and we will continue to promote this.
Agile regulation for fintech growth
A competitive and transparent regulatory environment is essential for sustaining this growth. Ireland’s regulatory infrastructure must support innovation, access and growth while maintaining its hard-earned supervisory reputation. We must match the pace of fast-moving sectors like AI and fintech with an appropriate regulatory approach. The Central Bank of Ireland plays a key role here, balancing its prudent oversight duty with agility in market development.
Future strategy for Irish finance
Looking ahead, the forthcoming iteration of Ireland for Finance, covering the period from 2026 to 2030, will build upon the successes of its predecessor. Our intention is to launch this new strategy in the first half of 2026. Over the coming months, I and officials in my Department will be engaging comprehensively with industry and consumers to shape what is a vital pathway for the future.
Anna-Marie Turley Head of Fintech, Financial Services and Cybersecurity, Enterprise Ireland
Donal Traynor Group Chief Executive,
Finance
The path forward is clear: targeted investment, smarter regulation and active Government leadership. Global uncertainty will continue in the coming months, but the economies and sectors which will prosper beyond that are those that can be agile and decisive. The financial services sector in Ireland has proven itself already, and the opportunity to come is even greater.
Sponsored by Community Finance Ireland
Community
Ireland
Robert Troy TD Minister of State for Financial Services, Credit Unions and
Strategic planning could save you nearly €1 million for your future
Extract wealth from your business efficiently using income strategies, pension planning and tax advice.
With the right advice, business owners can grow wealth and reduce their tax burden. In our client’s scenario below, we believe seeking our advice was worth €904,000, as it generated €460,000 in additional pension growth and €444,000 in tax savings (including income tax, capital gains tax and corporation tax).
Power of financial advice ‘Time is money’ is a common statement. However, the reality is that today is that smart strategy can drive real results, making expert financial advice essential. According to the 2023 Value of Advice Report by Brokers Ireland:
• Individuals who received financial advice had 60% more in savings and investments (€71,332 vs. €44,754).
• Their pension pots were 55% larger with financial advice, which could mean having €1,300,000 compared to €840,000, a difference of €460,000.
tax-free, and contributions are taxdeductible. You can withdraw 25% as a tax-free lump sum when you retire. Since 1 January 2025, PRSA contributions are capped based on salary.
• Hiring Family Members: You can employ your spouse or adult child and lower your tax bill, with their salary and pension contributions reducing corporation tax.
• Employment Investment Incentive Scheme (EIIS): This benefits companies by offering up to 40% tax relief on investments in qualifying Irish businesses, up to €250,000 (four years) or €500,000 (seven years).
Exit efficiently
• If you consider stepping away from your business, having a strategic tax plan can reduce capital gains tax (CGT) through reliefs such as:
• Entrepreneur Relief: This relief can reduce CGT from 33% to 10% on the sale of qualifying business assets, up to a €1 million lifetime limit.
• Retirement Relief: You get full relief when selling at 55–65. After that, it’s capped at €3 million.
What this looks like in real life
Our client Tom* runs a successful business, earning €100,000, with his spouse earning €75,000 as an employee of the business. Tom consulted us to structure the transaction in a taxefficient manner prior to selling the company for €1.5 million. We advised them to contribute 20% (max allowable by age) of their salaries to PRSAs, €20,000 for Tom and €15,000 for his spouse, resulting in €14,000 in annual income tax savings.
Additionally, their company paid 100% of their salaries as employer PRSA contributions, which resulted in annual Corporation Tax savings of almost €22,000. In addition, we helped them save €58,000 in CGT annually on the planned business sale. Combined, these created €80,000 in annual savings, totalling €240,000 over three years.
Since 1 January 2025, PRSA contributions are capped based on salary.
• 58% of those who received advice felt more confident and in control of their finances.
Tax-efficient wealth extraction Taking money from your business isn’t as simple as a salary or dividend; these methods often come with high tax costs.
• Salary: Subject to income tax, payrelated social insurance (PRSI) and universal social charge (USC), totalling up to 52%.
• Dividends: Taxed up to 52%, including PRSI and USC.
Company assets for personal use: Using company funds to purchase a car for personal use, for example, can trigger Benefit-in-Kind (BIK) and a charge of up to 30%.
More efficient options include:
• Pension Contributions: A company can contribute to a pension with no PRSI, USC or BIK. Pension grows
Smart planning boosts wealth
When Tom sold the business, he qualified for Entrepreneur Relief, reducing CGT on the first €1 million from 33% to 10%, resulting in a further saving of €230,000. After taking our investment advice, Tom’s pension portfolio grew from €840,000 to €1.3 million, an increase of €460,000, in line with the 55% uplift shown in industry research.
In total, the strategy delivered €444,000 in tax savings and €460,000 in pension growth, €904,000 overall, highlighting the impact of timely, expert financial planning. Building a business takes dedication, and protecting its value takes smart planning.
*Disclaimer: ‘Tom’ is a fictional client used for illustrative purposes only. The figures and outcomes shown are based on indicative scenarios and should not be taken as financial advice. Individual circumstances vary. Please seek personalised advice from a financial advisor.
Shane Tobin CEO , True Wealth
Marion Kelly CEO, Irish Banking Culture Board
Restoring trust and reputation in the banking sector following the financial crisis of 2008 has been a monumental task and has taken concerted efforts to slowly but surely win back faith from both customers and employees.
Why listening builds banking trust
“We commenced in 2019 to strategically engage with customers, staff and wider stakeholders and learned that many didn’t feel listened to and felt that their opinions didn’t count. So, it was imperative that we listened to them and introduced initiatives focused on addressing their concerns and needs,” says Marion Kelly, Chief Executive Officer of the Irish Banking Culture Board (IBCB), which is focused on helping its three member banks, Allied Irish Banks, Bank of Ireland and PTSB, build trustworthiness with the public.
Investing and changing the culture
With a workforce of around 20,000 across the retail banking sector, fostering openness, transparency and a culture where colleagues feel empowered to speak up and take accountability has been vital to ongoing reform. In the past 10 years, the IBCB member banks have invested significantly in their internal culture programmes, in diversity and inclusion and training.
Equally, initiatives to meet the needs of customers began with a major engagement drive. This included the launch of the now annual éist (the word for listen in Irish) research, which gives an evidence-based indication of how the banks are doing on the trust scale with the public.
Listening to people to make the right changes
There is also a wide range of regular stakeholder meetings, enabling representatives to sit down and listen to various voices, including the owners of small businesses, farmers and people from all walks of life.
The results of the éist surveys and the listening sessions inform initiatives by the IBCB and its individual member banks — particularly in the areas of financial literacy and awareness, inclusion and investment in social and community initiatives.
Listening pays off for retail banks aiming to restore trust
Addressing culture is turning the dial for Irish retail banks that have delivered several customer and staff-focused initiatives centred on restoring trust and reputation.
disempowered to access financial services,” says Kelly.
Financial literacy programmes to meet needs
This has led to partnerships with organisations such as Safe Ireland and TASC to design a Financial Awareness Training Programme for survivors of domestic abuse. This training supports both outreach workers and survivors in navigating challenges, such as opening a bank account without standard documentation or dealing with debt taken out without their consent.
Moreover, the IBCB and Youthreach are helping marginalised young people build financial literacy, covering budgeting, savings, credit use and risks of debt from easy-access finance like credit cards and buy now, pay later loans.
Kelly adds: “Retail banks are uniquely expected to play an active role in society — beyond offering the right products and services, they’re also expected to support customers who need extra help and support local communities.”
Guarding against fraud to regain trust
We have listened to the lived experience of those customers who, for example, may have debt issues, financial literacy or accessibility issues or have some form of disability.
Fraud and scams remain a major concern for bank customers. Protecting them has helped rebuild trust and reputation, according to Kelly. Retail banks have invested heavily in anti-fraud programmes — raising awareness and helping customers safeguard themselves. When fraud does occur, customers want fast, human support. All three Irish retail banks now offer strong response services, which are highly valued by those affected.
“We have listened to the lived experience of those customers who, for example, may have debt issues, financial literacy or accessibility issues or have some form of disability and where they may feel
The IBCB and its member banks have made steady progress in rebuilding trust. In 2021, its first éist Survey showed trust in the sector at -28. By December 2024, trust had turned positive — rising to +1. “Trust, once damaged, takes a long time to restore; the efforts of the past number of years are paying off with trust levels with customers and staff. The challenge ahead is growing and building on this, and sustaining it,” concludes Kelly.
Sponsored by Irish Banking Culture Board