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Dutch fintech bunq enters Irish market while pillar banks exit

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Dutch online bank bunq has officially entered the Irish market, offering an alternative while KBC and Ulster Bank prepare to exit.

The fintech has launched an Irish International Bank Account Number (IBAN), establishing a local presence in the country that will enable easier and faster direct debits and payments to and from Irish people and businesses.

She previously operated here with a Dutch IBAN and holds a banking license from the Dutch Central Bank

Today’s move makes bunq the first challenger bank with an Irish IBAN. It now operates in 30 European markets.

“By offering a full range of financial products and services, Irish people can finally experience the true value of fintech as an alternative to traditional banking,” said Gerald Gruber, bunq’s Chief Operating Officer.

The opening of a new branch in Ireland follows the recent acquisition of Capitalflow by bunq, an Irish specialist corporate lender employing over 75 people.

Bunq said in a statement that it is now poised to expand even further as Capitalflow offers Irish businesses current accounts, as well as appliance and vehicle financing, commercial property loans and cash flow facilities such as invoice rebates.

“We are delighted that bunq is strengthening its position in the Irish market following the acquisition of Capitalflow late last year,” said Ronan Horgan, Chief Executive of Capitalflow.

“This agreement has enabled us to offer more competitive financing to Irish SMEs and to further grow our workforce.”

Irish consumers interested in signing up for a bunq account can download the bunq app today.

https://www.independent.ie/business/irish/dutch-fintech-bunq-enters-irish-market-as-pillar-banks-leave-41613247.html Dutch fintech bunq enters Irish market while pillar banks exit

Fry Electronics Team

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