Bank of Ireland announces £4m investment in Invoice Finance proposition
Bank of Ireland UK has announced a major investment to enhance its invoice finance proposition for corporate, business and commercial customers.
The investment in the new technology delivers enhanced security and improved self-serve capabilities for the bank’s new and existing business customers, enabling them to:
- Access Invoice Finance systems 24/7 via laptop, tablet or mobile phone
- Request and receive daily cashflow funding quicker and more frequently
- Avail of full currency flexibility with fast access to the mix of currencies they need
- Create personal dashboards tailored to individual management information needs
- View their Stockline supplier payment facility information and available funding
- Control all aspects of user access for their business
- Benefit from enhanced reporting and export functionality
Commenting on the investment, Liz McKee, Head of Commercial Finance, Bank of Ireland UK said: “We know the vital role working capital solutions play in the cash management mix and our offering of both invoice discounting and supplier payment facilities is proving increasingly attractive to many businesses.
“This multi-million investment equips colleagues and customers with the latest technology, making it easier and faster for them to access the solutions they need alongside the support provided by our dedicated, local Commercial Finance team who work closely with businesses to fully understand and meet their cashflow needs.”
Profast Group, who supply fasteners, fixings, window and door hardware to the construction and manufacturing sectors across Ireland and the UK use Bank of Ireland’s invoice finance products to support their growth plans.
Stephen Clarke, CEO, Profast Group said; “We have ambitious plans to grow and expand into new markets so it’s important that we have access to financial products that are flexible and make our cashflow as efficient as possible.
“Having access to Stockline which increases our purchasing ability as well as more mainstream invoice discounting facilities means we have support when buying and selling, all of which is tailored to suit our business needs.
“The team at Bank of Ireland have helped us make the most of the invoice finance facilities and the investment in the systems now means we can access the facilities and tailor the reports we need any time we want. It’s a real asset to our business planning.”
Earlier this year, Bank of Ireland announced investment of £3m in a major upgrade to its local ATM network. The Bank has also invested £7m in new technology services and upgrades to its customer and colleague areas across its 13 branches in Northern Ireland.
Find out more about Bank of Ireland’s support for business at: Business – Bank of Ireland UK