Allied Irish Bank Goes Digital, Crosses 700,000 User Base on Mobile

With declining use of traditional banking channels like branch banking, AIB embraces mobile and achieves a rapid turnaround.

AIB or Allied Irish Banks is a leading commercial bank in Ireland, which offers a full range of personal, business, as well as corporate banking services. After passing through a rough patch thanks to the global slowdown and the European economic crisis, the bank restructured its business so that it could become more customer focused, profitable and a low-risk institution.

With more and more customers turning to digital channels like online, mobile, social, telephone, etc. it was essential for AIB to also embark on a digital journey.

The Need to Depart from Traditional Banking

To start with, the bank wanted to give its customers the power to bank the way they wanted, when they wanted, and wherever they wanted…all in real time. They needed to adopt technology that could not only help engage with customers, but also help reduce operating cost, improve productivity, and increase revenue. All of this meant one thing-improve the customer experience. This was just not possible if they continued to use the traditional, in-house delivery model for banking with an IT infrastructure that still used the waterfall models for development.

AIB required a new way of thinking with an appropriate mix of technology and business needs. This was only possible through a robust, mobile based banking solution, guided by a keen sense of business, leadership that could bring in a cultural shift, and a partner who could help them focus on all three aspects.

“We have an app today that is designed for our customers, by our customers. The outcome will be something to provide a foundation. That’s powerful. That’s the future.”  

- John Brennan, Head of Online Channel Development, Allied Irish Bank

ThoughtWorks Brings Customer-Centricity in Banking

The bank partnered with ThoughtWorks and built a retail banking application that was core to their mobile banking strategy. ThoughtWorks helped redesign the retail banking architecture and made it more user-centric. Thanks to this design, the average use by a unique customer is 26 times per month.

ThoughtWorks demonstrated how a group of technologists and business people could collaborate to create a multi-award winning app which improved customer satisfaction and efficiency. The outcome was a mobile app for retail banking, that worked on Android, iOS as well as Smart Watch and Wear apps.

700,000+ Users Access the Banking App 26 times a Month!

In the mobile world, the success of a mobile app can be determined by how often it’s used. Allied Irish Bank's customers use the banking app 26 times per month on an average, which is almost once a day. Moreover, over 40+ of the loans are now given through this mobile app.

By adopting mobility as the competitive advantage, AIB was able to deliver innovative services around the needs and aspirations of users. The app has achieved 700,000+ downloads, and enjoys a 4+ CSAT rating on the Apple App Store and a rating of 4.2 on the Android Play Store.

The app provides a wide range of banking features in the palm of AIB’s customers. Customers can view up to two balances without even logging in. They can manage their direct debits, apply for personal loans, and even transfer up to 300 Euros per day to new payees without really setting them up with a card reader. Users can even sync up the app with their smartwatch to check their account balance right on their wrist.

Third Party Recognition

Besides such encouraging statistics, the bank also received numerous awards for its digital initiatives, which are a testimony to the fact that they’re moving in the right direction.

AIB continues to expand its digital portfolio and encourages its customers to user digital channels instead of traditional ones.

Some Successful Digital Transformation Journeys and Other Interesting Reads:

THE DIGITAL MINDSET-PART I

THE DIGITAL MINDSET-PART II

How Domino’s Pizza Achieved 50% More Profits in a Year

An Airport in Your Pocket-Bengaluru Airport's Digital Journey

7 Digital Innovations That Changed the Fortunes of Domino’s Pizza

How Sathyam Cinemas is Clocking Big Business on their New Digital Ticketing Platform