Will the new Synch app change the face of Irish banking?

Eight years after Swish was launched onto the Swedish market, Synch, an Irish banks’ joint venture, is hoping for similar success with its platform here

Payments service Synch’s founding members are AIB, Bank of Ireland, Permanent TSB and KBC Bank Ireland.

As December 2012 drew to a close, thousands of Irish bank staff faced into the new year, either with their jobs having been culled or knowing they soon would be. Scores of bank branches had closed, and rows continued over the payment of unsecured bondholders.

That year, the Central Bank of Ireland bought the shell of what was supposed to be Anglo Irish Bank’s new headquarters on Dublin’s North Quays; National Irish Bank’s retail business ...