Irish consumers remain loyal to their main banks, with over 60% having stayed with the same institution for more than seven years, according to new research by Accenture. However, the same study reveals a growing trend of multi-banking, with more than 80% of Irish customers now engaging with multiple banking providers — one of the highest rates in Europe.
The findings are part of Accenture’s biennial Banking Consumer Study, which surveyed more than 49,000 people across 39 global markets, including 1,000 in Ireland.
Despite the digital transformation of the banking sector, Irish customers continue to place high value on local, in-person banking services. Over 70% of respondents said they appreciate having a branch nearby, while 66% rely on in-person visits to resolve complex or specific banking issues — figures significantly higher than the European average.
The study also highlights a paradox in customer attitudes towards digital technology and data use. While most Irish consumers express trust in their bank to protect their personal data, more than 80% are concerned about how that data is used — a concern amplified by the growing presence of artificial intelligence in financial services.
Data security, fraud protection, and privacy emerged as the top priorities for Irish customers when choosing a bank, with over 90% rating these factors as essential.
However, despite privacy concerns, more than half of Irish consumers said they would be open to using AI-powered financial assistants for managing daily banking tasks — suggesting a cautious openness to emerging technologies.
Ray Daly, head of Accenture’s financial services division in Ireland, said the findings highlight the importance of trust and personal relationships in the banking sector.
“Banks that focus on building trust and developing strong relationships with their customers will see the greatest rewards,” Daly said. “As generative AI becomes more prominent, addressing privacy and security concerns will be crucial to maintaining that trust.”
He added that the challenge for banks will be to ensure AI enhances rather than replaces the human side of banking. “It’s about moving from artificial intelligence to trusted intelligence,” he said.
The study reflects a shifting banking landscape in Ireland — one where tradition and technology must coexist to meet evolving customer expectations.
