 PCI
completes development of Postbank retail services
Postbank, the joint venture between the international financial
services provider Fortis and An Post, entered the Irish banking
market in May with the launch of a high-interest savings account.
PCI, IT services provider to An Post, is developing the IT infrastructure,
including counter technologies and backend servers, to handle more
sophisticated retail services offered in the future.
The Postbank product portfolio will expand to provide full banking
services including current accounts, insurance, mortgages, credit
cards and internet banking. In short, the new bank will deliver
a wide range of straightforward, value-for-money retail banking
products and services targeting a number of segments, including
those traditionally underserved by existing banks and those with
a strong affinity for the post office.
Postbank retail services will initially be offered in more than
200 post offices, extending nationally to over 1,000 Post Offices
within twelve months. It is estimated the joint venture will commence
operations with a workforce of 250, expanding to 500 employees within
five years.
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