An Australian wealth fintech launched a partnership with Bank of Ireland to provide millions with digital financial advice.
The deal will see Ignition's digital advice platform, Life Advice, support the bank's customers with financial wellness and saving, as well as more traditional wealth functions such as investment and insurance advice.
"Creating a single, digital advice platform will have a transformational impact on the Irish market," Bank of Ireland director of advice and distribution Seán Ó Murchú said in a statement.
The Ignition Advice hybrid model allows the bank to fully integrate digital advice with telephone or in-person experiences, as the customer requires.
"Consumers are increasingly using digital tools for many of their daily banking, shopping and entertainment needs. They want to complete simple transactions online, to easily access information, and to be supported as appropriate through technology or by advisers, depending on the complexity of their requirements," Ó Murchú added.
Ignition chief executive Manish Prasad said clearing the significant compliance and regulatory hurdles required to launch Life Advice in Europe's banking industry - such as ISO and IEC certification - marked a significant milestone for the firm.
"Ignition is a bank-grade, global enterprise solution with significant data security and risk management capabilities," Prasad said.
The homegrown business set up an office in Dublin more than a year ago, signalling a commitment to their foundation client in the region and their expansion plans in Europe. In Australia, Ignition Advice also provides custom solutions for banks and major super funds.
Bank of Ireland, which has more than 3.5 million customers, plans to introduce Life Advice to these customers over the course of the next 12 months via multiple roll-outs.