An Aussie fintech launched with the cooperation of the Bank of Ireland, to provide millions of Irish with digital financial advice, on par with advice from any certified financial advisor in Australia or Ireland.
This new deal will result in Ignition’s digital financial advice platform, Life Advice, being rolled out by the Bank of Ireland in order to support their customers with matters relating to financial wellness and saving, as well as some more traditional wealth transactions like investment and insurance advice.
Bank of Ireland Director of Advice and Distribution Seán Ó Murchú made a statement on the new partnership, saying that creating a single digital advice platform has the potential to transform the Irish banking market.
The Ignition Advice hybrid model will allow the bank to fully integrate digital financial advice from Life Advice with their telephone and their personal experiences, as per the customers’ needs.
Ó Murchú says that consumers are using digital tools more and more for many of their daily needs, which include banking. They want to complete their simpler transactions online, to easily see whatever information they need, and to have support as needed via technology or from a financial advisor in Australia or wherever they are, depending on how complex their needs are.
According to Ignition’s CEO Manish Prasad, the firm sees clearing the notable compliance and regulatory hurdles they needed in order to launch LifeAdvice in Europe’s banking field, like ISO and IEC certifications. He says that Ignition is a bank-grade, global enterprise solution with data security and risk management capabilities.
The homegrown Aussie business set up an office Dublin, Ireland back in 2017, a sign of their decision to commit to their clientele in the region, as well as their plans to expand into the region. Back in the AU, Ignition Advice also provides banks and major super funds custom solutions for their financial operations.
Bank Of Ireland, reportedly, has plans to introduce Life Advice over the course of a 12-month time span through multiple roll-outs. The service will be rolled out to their customers, which currently number at approximately 3.5 million people.