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Irish banks lagging behind in meeting expectations, survey finds

Dublin: According to a study, the majority of people in Ireland believe that banks do not live up to expectations. Two-thirds of respondents believe Ireland’s financial services market is uncompetitive.

The findings are contained in a switcher report published by Capitalflow, a flexible finance specialist and business lender that lends to Irish SMEs and property investors.

Only 21% of Irish adults believe Ireland’s banking and financial services market is good. 63 percent of people disagree. According to Ronan Horgan, CEO of Capitalflow, the issue is not limited to the number of banks operating in Ireland. Irish banks lag behind in terms of treating customers with dignity.

According to the CEO of the Irish Banking Culture Board, “regulations can only change behaviour, not culture.” Good culture has to have new ways, and it must come from above.

Capitalflow, a part of the digital bank Bunk, operates in 30 European countries. Capitalflow will have more than €1 billion in loans to Irish business customers by the end of 2022, according to Horgan.

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