Irish Independent: Irish banks dragging their feet as digital revolution sweeps through accountancy world


Irish banks and regulators have been “very slow to move with the times” regarding new rules for so-called open banking, according to the chief executive of online accounting company Big Red Cloud.

Marc O’Dwyer, whose company provides online accountancy software to thousands of small and medium Irish businesses, told the Sunday Independent the pillar banks and Central Bank have been slow to fully implement the new European payment services directive. It is aimed at boosting innovation and helping banking services adapt to new technologies and could provide efficiencies for small companies, he said.