On behalf of Council, I am delighted to introduce The Institute of Banking’s Strategic Plan 2018 – 2023, Empowering your Future. Our new strategy is one of significant ambition and investment by the Institute as we seek to anticipate and respond to our individual and corporate members’ needs within a fast changing financial services industry.
We are living in an age of digital transformation. Technology is now embedded in our business, work, personal and social lives. The ways we engage with and experience banking and financial services are changing rapidly. Banks and financial services firms are responding to changing customer expectations, to new competition, and the need to achieve greater efficiencies and agility in the way they operate. They are investing heavily in technology and in transformation programmes, in developing new integrated digital and customer business models.
In the midst of such change, the banking sector remains strongly focused on restoring and renewing public trust and confidence. Culture change is recognised as a crucial factor. The establishment of an independent Irish Banking Culture Board is part of a determined effort by the sector to achieve a consumer focused culture in Irish banking.
Financial services continues to be a great place to work. However, the sector must ensure that it can attract and retain talent at all levels with the knowledge, skills and qualifications to enable it to succeed for the benefit of customers and the economy.
This new strategy is our cogent response to these needs, opportunities and challenges. I would like to thank my board colleagues on Council and Mary O’Dea, the Institute’s Chief Executive and her team, for all their work in developing this strategy. In preparing it, we undertook a robust process of consultation, review and strategy formulation. Interviews were conducted with industry leaders, Council members and senior management and a survey completed by 6,000 members. Their honest appraisal, insight and ambition has enabled and emboldened our vision of serving an ethical, sustainable and continuously learning financial services community that contributes to a thriving economy.
President 2018 – 2019