BPFI National Banking Conference – Delivering for Customers

Banking & Payments Federation Ireland (BPFI) today held its annual national conference, Delivering Service for Customers at the Marker Hotel in Dublin. Opened by Eoghan Murphy, T.D., Minister of State for Financial Services, eGovernment and Public Procurement, the conference hosted a gathering of key senior bankers, policy makers and other key stakeholders to examine the impact of digital innovation on customer services and the policy and regulatory environment necessary to support this.

Speaking at today’s conference Minister of State for Financial Services, eGovernment and Public Procurement Eoghan Murphy, T.D., highlighted some of the challenges and opportunities presented by the digitalisation of financial services:

“Customers want more and better services. They want greater access. They want faster responses.  They want the assurance that their transactions are safe. Forward thinking banks will recognise those opportunities and will focus on delivering the service that customers want. A key challenge is to embrace the demands of consumers and use their willingness to adopt innovations in the market, in the process making Ireland an even stronger player in the international payments industry.However, delivering quality of service for customers is a real challenge in an environment where innovation is expected to happen and happen quickly. Ensuring proper safety checks are in place is important and that is where regulation can play a part.”

Also speaking at today Noel Brett, CEO, BPFI outlined how the sector is responding to the changing environment and described the challenges faced by the many inconsistencies which need to be addressed on a regulatory level:

“The combination of customers’ evolving preferences and technological advances provides for the development and delivery of banking services in innovative ways.  But the following has to be a key consideration: how do we facilitate the deployment of financial technology, that provides for a level playing field between incumbents and new players, that enhances the customer experience and which doesn’t at the same time leave the provider or customer open to new risks?  In this regard we have identified a number of issues that need to be addressed. The first of these relates to customer identification.  We welcome the possibility of customer e-identification and e-signature to facilitate non face-to-face customer relationships.  However, we are faced with considerable inconsistency.  On the one hand, we have a Regulation (e-IDAS) which seeks to promote e-identification to access online products and services and to conduct online transactions safely.  On the other hand, the 4th Anti-Money Laundering Directive still favours face-to-face due diligence and considers non-face-to-face relationships as ‘high risk’.  Work at EU level to bring about greater alignment between these measures is to be welcomed and it needs to deliver clear results if banks are to successfully navigate this terrain.”

Among those contributing to the conference were Ian Morgan, Managing Director, Digital Channels, Barclays UK who provided on overview of customer trends and the competitive and regulatory environment that is shaping Barclay’s digital strategy;  Sylvain Bouyon, Research Fellow, Centre for European Policy Studies, Brussels, who spoke on big data and the best regulatory approach to enhance digital interoperability within and across countries; and Richard Peers, Director, Financial Services Industry, Microsoft UK who outlined what’s likely to unfold over the coming years in terms of the data economy and data society and how it relates to financial services.

 

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Banking and Payments Federation Ireland (BPFI) is the voice of banking and payments in Ireland representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

 For Further Information Contact: Jillian Heffernan, Head of Communications, BPFI, ph: 01 474 8835 / 087 9016880

 

New Mortgage Lending in Q3 2016

  • 8,133 mortgages to a value of €1.56 billion drawn down in Q3 2016
  • Loan volumes in Q3 2016 up 13.7% year-on-year, 19.6% quarter-on-quarter

The Banking & Payments Federation Ireland (BPFI) Mortgage Drawdowns report published today, shows that 8,133 new mortgages to the value of €1.56 billion were drawn down by borrowers here during the third quarter of 2016.

These latest figures represent an increase of 19.6% in volume and 21.1% in value compared with the previous quarter (Q2 2016).  They also represent an increase of 13.7% in volume and 16.7% in value on the corresponding third quarter of 2015.

First-time buyers (FTBs) remained the single largest segment by volume (48.6%) and by value (46.4%).  Together, FTBs and mover purchasers accounted for almost 85.5% of the total value of mortgages drawn down.

The volume and the value of re-mortgage loans (switching) continue to increase strongly – albeit from low levels: 674 re-mortgage loans were drawn down in Q3 2016 to the value of €142 million, reflecting year-on-year growth of 103.6% in volume and 90.7% in value.

The BPFI Mortgage Drawdowns report can be viewed here.

Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

 Contact: Jillian Heffernan, Head of Communications, 087 9016880

Mortgage Approvals – September 2016

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending September 2016*.

The following are the key elements: A total of 3,399 mortgages were approved per month, on average, in the three months ending September 2016 – some  1,605 (47.2%) were for first-time buyers (FTBs) while mover purchasers accounted for 1,103 (32.5%).

  • The number of mortgages approved rose by 26.5% year-on-year and fell by 0.4% month-on-month.
  • The value of mortgages approved per month, on average, in the three months ending September 2016 was €677 million – of which €307 million (45.3%) was accounted for by FTBs and €267 million (39.4%) by mover purchasers.
  • The value of mortgage approvals rose by 2% year-on-year and fell by 0.7% month-on-month.

Both re-mortgage and top-up mortgage approvals grew on a year-on-year basis with re-mortgage (or switching) activity almost doubling in that period and rising by almost 9% month on month in both volume and value terms.

Data collection for the BPFI Mortgage Approvals Report began in September 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The BPFI Mortgage Approvals Report September 2016  as well as the time series data file is available on the BPFI website here.

[*] All figures are based on the three-month moving average.  Year-on-year compares the average for the three months ending September 2016 with the three months ending September 2015.  Month-on-month compares the average for the three months ending September 2016 with the three months ending August 2016.

Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, jillian.heffernan@bpfi.ie, 087 9016880

Banks Join HSE Awareness Campaign for Dementia

BPFI and our member banks are pleased to support Dementia Understand Together, a new awareness and information campaign led by the HSE to increase public knowledge about dementia. Seeking to build on the wide range of dementia specific programmes already in place around Ireland, the new initiative brings together a coalition of over 30 partner organisations, including BPFI and member banks, to create a national movement which will help support those living with dementia and their carers.

In supporting this campaign, BPFI is building on its work already in place through Dublin City University’s Dementia Elevator programme. This programme prepared training modules specifically to help staff in frontline banking positions to develop an empathetic and informed approach to dealing with customers with dementia.  A number of BPFI members are currently rolling out this training to relevant staff members as part of their general, ongoing training.

BPFI and our members are also working actively through BPFI’s Vulnerable Customer Forum to develop a best practice approach to customers presenting in vulnerable circumstances, such as dementia. Our participation in this and other such initiatives is important.  The expertise and information provided and challenges discussed through this work helps the sector to better understand the experiences and requirements of customers with dementia and their families and carers.

Speaking about today’s campaign Louise O’Mahony, Head of Mortgage Policy, BPFI said: “Like many service providers, BPFI’s members are increasingly aware of the challenges faced by customers in vulnerable circumstances.  They are seeking to address these issues as they arise through the development of clear policies and processes that facilitate customer needs and, at the same time, abide by regulatory and legislative requirements. We are pleased to be part of such a valuable campaign; and by joining the HSE and other stakeholders we hope to improve training and information provided for bank staff and their customers.”

To learn more about dementia, and Understand Together campaign, please visit www.understandtogether.ie

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For further information please contact:

Jillian Heffernan, Head of Communications, BPFI
Email: jillian.heffernan@bpfi.ie
Ph: 01 4748835/087 9016880

The Evolving Supervisory Architecture – Now Sold Out

This event is now sold.

BPFI will host a conference on the ‘Evolving Supervisory Architecture’ On Tuesday 8 November in The Westbury Hotel, Grafton Street, Dublin 2 from 9.00am – 12.45pm.

The supervisory and regulatory framework has changed irrevocably in recent years with the introduction of the banking union legislation and continuous changes to the legislative framework. The pace continues unabated with the advent of the introduction of the TLAC and MREL framework and the finalisation of the work of the Basel Committee’s reform agenda on areas such as operational risk, credit risk and the leverage ratio.

The effect of this on business models and the real economy is still to be seen with concerns that the revised Basel rules will lead to increased capital requirements for financial institutions. A capital markets outlook will be considered also and how the new regulatory agenda will impact this area.

The seminar will focus on the followings topics:

  • Overall Picture of the Regulatory Environment
  • Credit Risk Capital Implications  
  • Potential Operational Risk Capital developments
  • Capital Markets Impact
  • TLAC/MREL
  • Impact on the Real Economy

The latest agenda is available here.

Group bookings

For individual bookings, please click on the ‘Book Now’ button below. For organisations wishing to send several of their team, we are pleased to offer further discounts for group bookings (applicable where all attendees are employed by the same organisation and are registered under one booking):

  • 4 for the price of 3
  • 7 for the price of 5
  • 10 for the price of 7
  • For groups of 12 or more, every second delegate attends free of charge

To take advantage of this opportunity, please complete the and send it to Lisa Shevlin at events@bpfi.ie

Single Resolution Manual Published

The Single Resolution Mechanism has published its introduction to resolution planning. This publication describes the Single Resolution Mechanism (SRM) and its work on resolution planning. Over time, resolution plans will become more detailed and sophisticated. This also implies that in the period to come the requirement for banks to address impediments to their resolvability and to meet their requirement for own funds and eligible liabilities (MREL) will become more concrete.

Review shows banks meeting governance requirements

High impact banks, which had to undertake an audit of their regulatory reporting and outsourcing governance, met with the Central Bank recently for a review of the 2015 Audit. In general the Central Bank considered that banks had addressed the governance requirements but will be suggesting some operational amendments.  The governance audit will continue for year-end 2016, as the Central Bank considers it a useful and informative tool but some welcome adjustment to timing may be considered.

Role of data analysis in risk management

BPFI’s Operational Risk (OR) Forum considered the interaction between good data management and OR management when it met recently. The understanding by data analysts of the key role data plays in sound risk management and the building of solid relationships between the two areas was highlighted.  Two primary reasons for the recent financial turmoil, given by the ECB Head of External Statistics, were data blindness and inadequate analytics.   BPFI believes that greater interaction and a sense of common purpose between these two risk and data disciplines can only be positive.