Tommy Broughan (Dublin Bay North, Independent) | Oireachtas source

There is a perception that, along with declining work forces, there is also a lack of services as we have branches which have no managers, one manager managing four or five branches and so on. We signed up to the payment services directive and are seeing the impact of that in our current accounts when we get responses on our phones if we carry out transactions on the web. There is also the new system of open banking, which allows third parties to access our accounts. It is a profound change. Is it the case that the pillar banks have not committed enough to those services?

The Minister set up the culture board recently, which is very important for the banks. How will the Central Bank regulate a plethora of new financial providers based in Germany, Spain and so on, not to mention companies such as Google and Facebook? I was in Sweden during the summer and noticed that the country has become almost cashless, which seems to be the way things are going.

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