Advertisement

Bank of Ireland sets up dedicated unit to help vulnerable customers

Bank of Ireland says it dealt with more than 400 cases involving vulnerable customers in the past...
Jack Quann
Jack Quann

08.12 4 Jul 2019


Share this article


Bank of Ireland sets up dedica...

Bank of Ireland sets up dedicated unit to help vulnerable customers

Jack Quann
Jack Quann

08.12 4 Jul 2019


Share this article


Bank of Ireland says it dealt with more than 400 cases involving vulnerable customers in the past month.

The bank is setting up a new dedicated unit, the Vulnerable Customer Unit (VCU), to provide enhanced support to them.

This unit will provide banking support to customers facing vulnerable circumstances or situations - including age-related or cognitive impairment, financial abuse, illness and addiction.

Advertisement

According to the most recent Central Statistics Office (CSO) census, there are 643,000 people with a disability in Ireland.

While a report prepared by the Department of Health shows that the number of people over-65 is increasing by over 20,000 a year - with 673,000 people over 65 as of 2018, an increase of 35% since 2009.

Bank of Ireland File Photo | Image: Leah Farrell/RollingNews.ie

The report also shows that there were 263,000 people on the long-term illness scheme in 2017, an increase of 119% since 2008.

Speaking about the launch of the unit, Laura Lynch from Bank of Ireland says: "Over the course of our lives most of us will probably find ourselves in a vulnerable situation, whether due to financial hardship, bereavement, illness, or cognitive impairment as we get older."

"Our Vulnerable Customer Unit will provide expert support and guidance to our frontline customer service colleagues so that issues can be dealt with appropriately and efficiently when they arise."

The new VCU is based in Co Carlow and staffed by eight specialists with experience in retail and community banking, fraud and financial crime.


Share this article


Read more about

Age-related Impairment Bank Of Ireland Banking Census Enhanced Support Financial Crime Fraud Laura Lynch Long-term Illness Vulnerable Customer Unit Vulnerable Customers

Most Popular

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share


Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

Breakfast Business

Breakfast Business

06:30-07:00

Share

Up next

NEWSTALK BREAKFAST

NEWSTALK BREAKFAST

07:00-09:00

Share

THE PAT KENNY SHOW

THE PAT KENNY SHOW

09:00-12:00

Share

LUNCHTIME LIVE

LUNCHTIME LIVE

12:00-14:00

Share

MONCRIEFF

MONCRIEFF

14:00-16:00

Share

THE HARD SHOULDER

THE HARD SHOULDER

16:00-19:00

Share

OFF THE BALL

OFF THE BALL

19:00-22:00

Share

THE TOM DUNNE SHOW

THE TOM DUNNE SHOW

22:00-00:00

Share

BEST OF NEWSTALK

BEST OF NEWSTALK

00:00-06:00

Share

BREAKFAST BRIEFING

BREAKFAST BRIEFING

06:00-06:30

Share

BREAKFAST BUSINESS

BREAKFAST BUSINESS

06:30-07:00

Share

00:00:00 / 00:00:00

Share on