A new bank targeting internet gamblers and gaming merchants has opened for business online in Ireland.
UK-based internet bank Ivobank is hoping to tap into a growing industry in Ireland, offering online payment and money transfer services. The online bank is authorised and regulated by the Financial Services Authority (FSA).
"The online gaming industry is particularly popular and thriving in Ireland with many of the industry’s major players being based in the country. The online gaming market in Ireland is growing by 20 per cent each year and is worth an estimated €100 million per annum,” said Ivobank’s director of commercial development, Martin Peterlechner.
The bank claims that gaming companies have been "ill served" up until now, and says its services have been designed with online gamers in mind.