BPFI members confirm Payment Break extension from three months to six months for those directly impacted by Covid-19

Over 65,000 mortgage payment breaks and over 22,000 SME payment breaks granted over past six weeks

Banking & Payments Federation Ireland (BPFI) members including the five main retail banks, together with non-bank lenders and specialist lenders, and credit servicing firms, have today confirmed that a further three-month extension to the current payment break will be made available to customers that continue to be directly impacted by the fallout from the Covid-19 pandemic. In light of the prolonged and deepening crisis, the extension will allow impacted personal and business customers a payment break of up to six months in total. The same extension arrangement will also be available to Covid-19 impacted customers who may yet apply for a payment break.

Announcing the measures today BPFI Chief Executive, Brian Hayes, said: “Today’s confirmation of an extension of the payment break for those customers directly impacted by Covid-19, is an important signal to those most affected, be they mortgage holders, those with personal loans or SMEs.”

“BPFI has had excellent engagement with the Central Bank of Ireland on behalf it its members and we appreciate the pragmatic approach being taken across the board to the challenges facing those impacted by Covid-19”, he added.

Mr. Hayes said: “BPFI and its members fully appreciate that people are going into a very uncertain period in the weeks and months ahead and our objective is to allay their worries by offering as much relief and certainty as possible in these unprecedented times.”

The BPFI CEO stressed that “All relevant BPFI member firms will be actively contacting customers who have availed of payment breaks over the coming weeks and months about the possibility of extending this break. Customers do not need to contact their lender. Providers will contact customers. All providers involved will be in communication with payment break customers in advance of the expiry of their three-month break, providing detail on the options available to them in the months ahead.”

The BPFI Chief Executive highlighted that detailed guidance and FAQs will be made available by the banks and the BPFI as part of a communications campaign.

Mr. Hayes said: “Over 65,000 mortgage payment breaks and over 22,000 SME payment breaks have been granted since the industry-wide payment breaks were announced on 18th March. The existing public health measures put in place by Government, aimed at mitigating the impact of COVID-19, have been extended since the original BPFI announcement of payment breaks up to three months. These measures may need to remain in operation for some time or may only be lifted gradually with an unknown impact on the economy going forward. BPFI members strongly appreciate the severity of the impact on families, individuals and businesses and it is for this reason, that we believe an extension of the existing payment break beyond three months may be required by many customers.”

 

The relevant BPFI Members are:

  • AIB,
  • Bank of Ireland,
  • KBC,
  • Permanent tsb
  • Ulster Bank,
  • EBS
  • Finance Ireland
  • Haven
  • Investec Private Finance Ireland Ltd
  • Dilosk/ICS Mortgages
  • Lapithus,
  • Link Group,
  • Mars Capital,
  • Pepper
  • Start

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

BPFI publishes ‘Economic Recovery Plan’ setting out measures to facilitate liquidity and capital flow to thousands of Irish SMEs

New state backed loan scheme essential for survival of businesses

Launching details of the Banking & Payments Federation (BPFI)’s Economic Recovery Plan for Irish SMEs, BPFI Chief Economist Ali Ugur, said: “Irish SMEs will require a range of state supports, the most significant of which must be a new state guaranteed COVID Business Support Fund if they are to stand a chance of survival and recovery in the months ahead. A new state guaranteed scheme would enable government guarantees of emergency loans to Irish SMEs, temporarily distressed as a result of Covid-19, but who are otherwise creditworthy borrowers.”

Dr. Ugur said the estimated scale of the proposed new guarantee scheme could range from €6 billion – €8 billion, depending on the number of Irish SMEs that would require it in the economically challenging months ahead. “For the new state guarantee of loans to be effective for SMEs who need urgent liquidity and financial support, a number of key criteria would need to apply to the scheme:

  • 90% state guarantee for micro enterprises for loans up to €50k
  • 80% state guarantee for loans up to €5m for small and medium-sized enterprises
  • There should be no portfolio cap applied
  • Repayment term to apply up to 10 years
  • Interest free for SMEs for 12 months (similar to the UK scheme, funding of interest during this period to be agreed)
  • General interest rates to be aligned with state guarantee provided
  • Limits on restructuring of existing debt to be agreed
  • Application process needs to be straightforward with an appropriately user-friendly application form. It should be clear that confirmation of eligibility of a borrower for the scheme by the fund does not imply credit approval which must be sought from one of the banking providers.
  • Current SME Regulations issued in 2016 contain requirements on affordability assessment and we believe that these should be waived for the proposed new scheme during this crisis period.

Dr. Ugur said that experience from other countries also showed that speed, scale and simplicity of the state guarantee scheme would be crucial in terms of getting the money into businesses affected during the COVID-19 crisis. “At the heart of Irish SMEs’ survival and their capacity to withstand the economic hurricane that is COVID-19 is the central issue of liquidity. It is the most fundamental element in the survival plans for Irish businesses and without liquidity support, businesses will quite simply struggle, if not find it impossible, to survive”, added Dr. Ugur.

The state guarantee of loans to SMEs proposal is one of a number of initiatives which are being published by BPFI today as part of its Plan for Economic Recovery of Irish SMEs paper. The plan sets out possible measures that banks and the Government, can take in order to facilitate liquidity and capital flow to cash strapped businesses at an affordable cost with the State’s support.

In addition to the state guaranteed COVID Business Support Fund, BPFI’s Plan for Economic Recovery paper sets out a range of proposed measures to support Irish SMEs. These initiatives include, among others, an improved SBCI COVID-19 Working Capital Loan Scheme, the establishment of a special task force for SMEs and more efficient and cost effective examinerships for SMEs.

The BPFI Chief Economist said: “Thousands of SMEs will require a cash injection to get back up and running again and to provide support during the initial six to nine months of trading until confidence is re-established and the economy returns to some form of normality.”

“At the outset of this crisis BPFI members responded with the introduction of payment breaks for up to three months for business customers with over 14,000 SME payment breaks granted or in the process of being granted over the past six weeks. While these will help to cushion the immediate economic impacts of the current crisis, further swift action is now required to ensure otherwise stable business can see this crisis through. The impact of the COVID-19 pandemic on Irish SMEs in the space of just six weeks has been severe in the extreme and is evident in the number of business closures, plummeting turnover, falling profits and, most of all, in terms of the numbers of unemployed arising from the rapid decline in economic activity across a whole range of sectors in the Irish economy.” Dr Ugur concluded.

 

About: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

BPFI welcomes European Commission proposal to amend EU banking rules to assist banks in provision of credit to the economy

Banking & Payments Federation Ireland (BPFI) Chief Executive, Brian Hayes, has welcomed today’s proposal by the European Commission to amend EU banking rules in order to assist banks in the provision of credit to the economy at this vital time.

Speaking after the publication of the legislation, Mr Hayes said: “The European Commission has shown that it is willing to take swift and decisive action to ensure that current rules do not negatively impact the banking sector’s ability to continue lending to households and businesses at this critical time.

“In particular, the proposal to introduce more favourable capital rules for SME and infrastructure lending is welcomed. At the same time, we also welcome the move to amend the existing accounting rules which aims to ensure that Europe is in line with other jurisdictions and more importantly, that our banks are not forced to set aside large amounts of capital that could otherwise be lent to businesses and consumers”.

In conclusion he said: “It is now crucial that these rules are adopted by the EU institutions so that the sector has complete certainty during this volatile period”.

 

 

Note to the editor:

Today’s proposal by the European Commission amends the EU’s Capital Requirements Regulation (CRR) and follows the actions of other jurisdictions like the US and Switzerland who have recently made similar changes to their respective frameworks as a consequence of COVID-19.

One of the main areas where the Commission has looked to amend is around the treatment of lending to SMEs and Infrastructure projects, by assigning lower capital requirements on banks for these exposures. These changes were already agreed in the EU in 2019 but will now enter into force earlier.

In addition to this, the EU executive body has sought to align EU rules with what the Basel Committee on Banking Supervision (BCBS) has recently advised authorities to do around the treatment of accounting rules. Specifically, the global standard setter for banking regulation has urged regulators to amend how significant credit events should be dealt with during this current crisis due to its exogenous nature. It suggests that banks should be allowed to off-set Expected Credit Losses (ECL) against common equity for a period of time before having to set aside capital against loans.

Another one of the key proposals aims to provide loans that are backed by state guarantees with more favourable capital treatment if they become non-performing.

 

About: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

Banks clarify position on mortgage application process

BPFI publish guidance for customers on mortgage approvals and drawdowns process during Covid-19

Banking & Payments Federation Ireland (BPFI) has today published an FAQ as guidance for customers who are currently engaged in the mortgage application process and who may have questions as to how this might be impacted by Covid-19. The information, published on BPFI’s website here addresses questions for those seeking to apply for a mortgage approval, those who have obtained an approval or those who are seeking to drawdown on a mortgage.

Outlining the current situation regarding the mortgage application process in the context of the Covid-19 crisis, Brian Hayes, BPFI Chief Executive said: “In these increasingly uncertain times BPFI is today seeking to provide reassurance and clarity to customers who are at various stages of the mortgage application process be that someone who is thinking of applying for a new mortgage, someone who has secured a mortgage approval or indeed someone who is about to drawdown on their mortgage.”

The BPFI guidance confirms that banks remain open for business for new mortgage applications and are operating as effectively as circumstance allow. For those customers who have secured a mortgage approval but who may now need more time to find a home due to the impact of the current restrictions, lenders can extend the period of a mortgage approval where the customer’s circumstances have not materially changed, subject to standard income and affordability checks. And for those who have a mortgage approval but who have unfortunately experienced income loss due to Covid-19, a lender can keep this application open  on its system for a period of time after which it can be reviewed and the customer can provide an update on his/her  employment and income situation. This approach is considered to be clearly in the interest of both the customer and the lender in ensuring that mortgages are not extended to those who cannot now or in the immediate future afford them.

According to BPFI there will be many customers who are further along the application stage and looking to drawdown on their mortgage and perhaps thinking that the current crisis may impact this process. But BPFI is keen to reassure such customers that lenders are facilitating mortgage drawdowns within the normal timeframe where all the standard requirements have been fulfilled. However it’s important to bear in mind  that some delay may occur due to factors beyond the lender’s control, for example, the ability of valuers to conduct a full inspection of a property or of legal practitioners to access everything that is required for them to complete all steps.

“At whatever stage  applicants may be in the mortgage process, should they have any concerns we would encourage them to read the  information available on the BPFI’s website in the first instance; and if they have any further questions beyond that to contact their lender who will advise them on their particular situation,” Brian Hayes concluded.

BPFI’s Covid-19 FAQ on mortgages can be found on the BPFI website here. A range of other Covid-19 support information on a range of topics including payment breaks for mortgage customers, supports for businesses, payment services and vulnerable customers can also be found on the site.

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

Businesses urged to avoid payment delays to wages and salaries due to upcoming European May Day holiday on Friday May 1st

Banking & Payments Federation Ireland (BPFI) is today advising businesses that due to the upcoming European May Day holiday, payment requests for wages and salaries due on the 1st May should be submitted earlier to ensure employees receive their pay on time.

Explaining the impact of this Gill Murphy, Head of Payment Schemes, BPFI said: “With the annual European Mayday holiday falling on Friday May 1st European institutions including the European Central Bank, which operates the banking settlement system across Europe, is closed. And although banks are open in Ireland on that day, the European holiday means that electronic payments in EURO cannot be made to bank accounts on this day in Ireland or anywhere across Europe. Essentially this means that anyone expecting a EURO payment into their bank account on this date may not receive the payment until either Monday 4th or Tuesday 5th May as, in addition to the European holiday Monday 4th May is a bank holiday in Ireland.”

“We are now advising businesses paying employees or suppliers to please allow additional time for payment(s) to reach the beneficiary. Employers who normally pay weekly wages into employee’s accounts on a Friday, or monthly salaries on the 1st of the month, will need to submit their payment requests to their bank by Wednesday 29th April with employees receiving their funds on Thursday 30th April. This is the only way to ensure that funds are available to employees on Friday 1st May and over the weekend.”

“If employers do not pay early, some employees may not receive their wage/salary payments until Tuesday 5th May, as Monday 4th May is a local bank holiday in Ireland.” Gill Murphy added. Standard payment processing cycles will apply from Tuesday 5th May.

BPFI member banks are engaging directly with business customers and government departments in to ensure, where necessary, payments impacted by this are paid early and are processed on time. As such, customers should raise any queries they may have directly with their bank, credit union or Post office.

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

Over 45,000 mortgage payment breaks granted or close to completion

Figure represents approximately 5% of total mortgages in Ireland

Banking and Payments Federation Ireland (BPFI) CEO Brian Hayes today said: “Over 45,000 mortgage payment breaks have now been granted or are close to completion since the cross-bank initiative was introduced by Ireland’s five retail banks.” The BPFI CEO said the figure represents approximately 5% of all mortgages in Ireland.

Mr. Hayes said: Close to 14,000 SME payment breaks were granted or in the process of being granted over the past three weeks, while banks were also well advanced in processing requests for working capital facilities, which total 3,200 to date. Banks are experiencing a far greater demand by SMEs for payment breaks, which account for 65% of the overall demand in supports, while working capital facilities account for just 35% of the requests received from SMEs.”

Coming on the increase in the figures, Mr. Hayes said: “These figures indicate the scale of the financial impact of Covid-19 on both individuals and businesses and the swiftness with which banks have moved to prioritise those who most need financial support at this challenging time”.

“Substantial changes across a whole range of the banks’ operational systems have been necessary in order to process the thousands of payment break applications which have been received, and which banks will continue to receive as customers seek support as a result of the Covid-19 pandemic”.

The BPFI CEO said: “Banks have been reallocating up to 50% of their staff in some cases to ensure delivery of the payment breaks, while thousands of call centre personnel, IT, credit, risk and operations teams have all been involved in the changes that have been required to manage and deliver on the thousands of applications and queries they have been receiving.”

SMEs must watch for increased risk of Covid-19 supplier and invoice scams this Easter in light of Europol warning

FraudSMART outlines advice for businesses on how to identify and avoid Covid-19 related invoice frauds and scams

FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI), is alerting Irish SMEs to the increased risk of Covid-19 invoice related scams following serious warnings from Eurpol about fraudulent new supplier websites and domain names coming online. As more and more businesses move online during the current crisis, and accounts personnel work in isolation from home, Irish SMEs are being advised on how best to protect their business and accounts through a new FraudSMART advice which outlines how businesses can identify and protect themselves from these scams.

Highlighting the current dangers for businesses, Brian Hayes, CEO BPFI, who promotes the FraudSMART programme said: “We know that due to the current crisis many legitimate businesses are now moving online having been required to close their physical shops and outlets. We also know from the EU’s law enforcement agency, Europol and it’s  operational partners, that there has been a sudden upsurge in the number of new website addresses or ‘domains’ being registered and worryingly over half of those domains which contain the word ‘Covid-19’ have been created for criminal purposes. The fake domains are fronted by bogus and malicious websites established by fake suppliers and vendors who are taking orders for goods and issuing invoices which unwitting and legitimate businesses are paying for, but the goods never arrive.”

“In addition, we also anticipate an increase in a very sophisticated scam known as invoice redirection  in which a business is approached by somebody pretending to represent one of their existing suppliers or creditors and told that bank account details for the payment of future invoices should be changed or made to a different account. The request may look authentic, it may appear to be authentic, but on close examination it is a scam. If the request is acted upon, the next legitimate payment will be made directly to the fraudster’s account”.

“In what is an already extraordinarily challenging time for businesses right now, we are advising all companies to be extra cautious when sourcing or purchasing products from new and untested suppliers and to verify in person any requests related to changing bank account details. FraudSMART has put together key advice on what businesses should look out for in relation to these scams and what measures they can take to avoid them. We would urge all businesses to familiarise themselves with these as soon as possible in order to protect their business and its finances. Finally, we would advise that businesses immediately report any suspicious activity to their bank and their local garda station.”

Top advice on fake supplier invoice scams

  • Only order goods from an authentic/legitimate source – do not to click on promotional links in emails, instead use your browser to find your desired supplier and check their official website.
  • Thoroughly research any new supplier no matter how big or small your order might be. Check out whether their website has been reviewed online across different trusted sources which aggregate customer reviews.
  • Beware of lookalike domain spelling errors in emails and websites addressed.
  • Check invoices thoroughly for any irregularities including misspellings and grammatical errors.
  • Never issue payment instructions on foot of an email alone. Make additional contact via telephone.
  • If you don’t know the company or supplier and the offer is too good to be true, it’s definitely a scam.

Key advice on invoice redirection scams

  • Verify all requests purporting to be from your creditors, especially if they are asking you to change their bank details for future invoices.
  • Do this by phoning a known contact – do not to use the contact details on the letter/email requesting the change. Look up the number independently.
  • If possible set up designated Single Points of Contact with companies to whom you make regular payments.
  • Instruct staff responsible for paying invoices to always check them for any irregularities.
  • When an invoice is paid send an email to the recipient informing them that payment has been made and to which bank account. Be mindful of account security and consider including the beneficiary bank name and the last four digits of the account to ensure security.
  • Fraudsters often look for information regarding contracts and suppliers on an organisation’s own website. Consider whether it is necessary to publish information of this type in the public domain and ensure your staff limit what they share about the company on their social media.

Further information on Covid-19 and other fraud types can be found on the FraudSMART website www.fraudSMART.ie

 

Contact: Olivia Buckley, BPFI,  087 629 8113 or olivia.buckley@bpfi.ie

About FraudSMART: FraudSMART is a fraud awareness initiative developed by Banking & Payments Federation Ireland (BPFI) in conjunction with the following member banks, Allied Irish Bank plc, Bank of Ireland, KBC Bank Ireland, PermanentTSB, Ulster Bank, An Post Money and Barclays. The programme aims to raise consumer and business awareness of the latest financial fraud activity and trends and provide simple and impartial advice on how best they can protect themselves and their resources. www.fraudsmart.ie

About BPFI: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Dedicated phonelines for cocooning and vulnerable bank customers set up by five retail banks

BPFI publishes guide on day-to-day banking to help those required to stay at home manage their money in a safe way

Banking & Payments Federation Ireland (BPFI) has today announced that all five retail banks now have dedicated freephone phonelines to assist cocooning customers during the Covid-19 crisis. The dedicated phonelines, along with advice on how best to conduct day-to-day banking if you are required to stay at home are included in a special Covid-19 Information Guide being launched by the BPFI today.

The guide gives essential banking advice for those cocooning which includes details on:

  • Over the phone and online banking options
  • Making payments over the phone
  • Calling your bank, and
  • Getting help with your banking
  • Tips for keeping your money safe

Speaking about both these initiatives, Brian Hayes, BPFI CEO, said: “With close to 10% of the population over 70 years of age, banks recognise the serious challenges now faced by customers who are being forced to cocoon and who may be in vulnerable circumstances. The main retail banks (AIB, Bank of Ireland, KBC, permanent tsb and Ulster Bank)  are now acting to assist these customers during Covd-19 and have set up dedicated phonelines ensuring calls from this cohort of customers are prioritised and that any of their concerns in relation to managing their daily banking can be addressed.”

In addition, BPFI has today published a special information guide providing practical advice for cocooning customers on the various ways in which they can manage their day-to-day banking and finances in a safe way while they stay at home. Brian Hayes said: “We encourage the use of online and phone banking as well as card payments as much as possible in the current environment given the convenience and security these methods offer. For a small cohort of customers, these may not be feasible options and therefore all retail banks have put in place the possibility for such customers to get help accessing their cash. There are very strict protocols in place around this facility to ensure the potential for financial abuse is minimised and that it allows customers keep control of their money.”

As well as providing information on banking options, the guide also outlines a number of tips around how customers can keep their money safe. This includes advice such as avoiding keeping large sums of cash at home and making and paying for orders such as medicines with a card over the phone where possible. Importantly, the guide also highlights that if a customer is worried about the management of their money they should call their bank via the dedicated phonelines in the guide as frontline bank staff are trained to deal empathetically with customers to help ensure their wishes are followed.

BPFI will be working with Safeguarding Ireland and ALONE, the organisation that supports older people, in the coming weeks to share awareness of issues that may arise for vulnerable customers and to ensure the leaflet reaches as many impacted customers as possible. BPFI is calling on all those working in the community to share the information leaflet. BPFI is also conducting a social media campaign to promote the leaflet nationwide and to highlight the importance of sharing it with those who can benefit from the information in it. A copy of the leaflet is available on BPFI’s website www.safeguardyourmoney.ie

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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

BPFI publishes range of ‘Frequently Asked Questions’ for customers on Covid-19 related payments breaks, business supports and bank payment services

Banking & Payments Federation Ireland (BPFI) has today published on its website a suite of material to assist bank customers with questions they are likely to have about how their banking business could be impacted by the Covid-19 pandemic

Presented in a Frequently Asked Questions (FAQ) format, this customer advisory material covers the following areas:

  • Payment breaks for personal and business customers – an update on available payment breaks, how a payment break operates, related costs, how to apply, etc
  • Banking for business customers – bank supports for business customers around existing loans, new credit facilities available and a guide to the information likely to be sought for these, information on a range of supports available from non-bank sources, etc
  • Payment services – guidance on the operation of branch banking, alternatives to branch banking, payment cards and cash usage, etc
  • Vulnerable customers – guidance on how banks are facilitating access to money for customers unable to manage their own banking due to isolation requirements / illness

All of this material is readily accessible on the BPFI website here

In addition, representative bodies for consumers and businesses are being alerted to this information so that they can consider sharing it widely across their networks.

“Bank customers need relevant information and support to help guide them through these very challenging times”, states Brian Hayes, BPFI Chief Executive.  “This information will usefully complement that which our individual member institutions are providing, in addition to the thousands upon thousands of customer engagements that frontline staff are undertaking with customers week in week out.”

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

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