Internet banking is the future, delegates at a session of the World Economic Forum in Davos heard yesterday. However, banks were also warned that not being prepared for e-banking or conducting such business the wrong way, could spell disaster - even for the biggest bank.
The warning came from Professor Anthony Hourihan of the Michael Smurfit Business School in UCD who told delegates that banks must integrate completely with their Internet banking operations. Prof Hourihan singled out AIB as being very successful in this area. "AIB is more lauded abroad than at home for its success and it has definitely made the right decision to integrate everything," he said. Other participants pointed out that Ireland is at the "cutting edge" of new banking technology.
Such is the popularity of this sort of message in Davos that Prof Hourihan is speaking at three sessions over the few days. Both AIB chairman Mr Lochlann Quinn and Bank of Ireland chief Mr Maurice Keane are here to hear the message.
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