Bank of Ireland UK has made a major investment in technology to provide new and enhanced self-serve capabilities to its invoice finance proposition for corporate, business and commercial customers.
The technology has enhanced security and for the first time, enables customers to access their cashflow facilities via one online portal, including the bank’s Stockline supplier payment facility.
Other new developments include:
- 24/7 access to Invoice Finance systems via laptop, tablet or mobile phone
- Customers can request and receive daily cashflow funding quicker and more frequently
- The ability to create personal dashboards tailored to individual information needs
- Full currency flexibility with fast access to the mix of currencies customers need
- Control of all aspects of user access for their business
Customers can also now benefit from enhanced reporting and export functionality.
Commenting on the investment, Liz McKee, Head of Commercial Finance, Bank of Ireland UK said: “We know the vital role working capital solutions play in the cash management mix and our offering of both invoice discounting and supplier payment facilities is proving increasingly attractive to many businesses.
“This multi-million investment equips colleagues and customers with the latest technology, making it easier and faster for them to access the solutions they need alongside the support provided by our dedicated, local Commercial Finance team who work closely with businesses to fully understand and meet their cashflow needs.”
Profast Group in Belfast, who supply fasteners, fixings, window and door hardware to the construction and manufacturing sectors across Ireland and the UK use Bank of Ireland’s invoice finance products to support their growth plans.
Stephen Clarke, CEO, Profast Group said; “We have ambitious plans to grow and expand into new markets so it’s important that we have access to financial products that are flexible and make our cashflow as efficient as possible.
“Having access to Stockline which increases our purchasing ability as well as more mainstream invoice discounting facilities means we have support when buying and selling, all of which is tailored to suit our business needs.
“The team at Bank of Ireland have helped us make the most of the invoice finance facilities and the investment in the systems now means we can access the facilities and tailor the reports we need any time we want. It’s a real asset to our business planning.”
Earlier this year, Bank of Ireland announced investment of £3m in a major upgrade to its local ATM network. The Bank has also invested £7m in new technology services and upgrades to its customer and colleague areas across its 13 branches in Northern Ireland.
Find out more about Bank of Ireland’s support for business at: Business – Bank of Ireland UK