Business news

Digital money management service rolled out to Bank of Ireland customers

Posted By:
Bank of Ireland UK

11th Oct 2022

  • New service – Mi 365 – offers customers more than 40 insights into their spending habits
  • Insights help customers better understand and control their spending
  • Service also helps customers save by highlighting similar or duplicate transactions

11th October 2022 – Bank of Ireland has introduced a new digital money management service – Money Insights 365 (Mi 365) – for all personal customers.  Available on the Bank of Ireland mobile app, Mi 365 helps customers take more control of their money by providing them with over 40 insights into their spending.

Mi 365 allows Bank of Ireland personal customers to:

  • Access personalised insights on their spending, including average monthly spend with particular retailers
  • Easily track money in and out, including unexpected payments or refunds
  • Review cash flow spend data on their account for up to six months
  • Spot changes in spending they might need to keep an eye on, for example on groceries, clothing or entertainment

Mi 365 will also show where customers may have duplicate transactions leaving their account – such as for similar online subscriptions – highlighting where a saving could be made. The introduction of Mi 365 is one of a range of measures the Bank has taken to help customers understand and manage day-to-day spending, as part of the Bank’s commitment to support and enhance customer financial wellbeing across Northern Ireland.

Ian McLaughlin, CEO Bank of Ireland UK said: “Research shows that most adults want their bank to help with advice, insights and goal setting. Mi 365 responds to this by providing insights, alerts and interventions so that we can manage our money better.

“It can be hard to find the time to track your spending day-in day-out. Mi 365 does a lot of the heavy lifting by presenting customers with a range of individual spending insights. The service is a core part of our mobile banking app which is the most popular way for our customers to manage their money. 

“This is another practical addition to the financial wellbeing supports we offer to our customers in Northern Ireland. We look forward to continuing to expand these supports into the future.”

Mi 365 Insights appears automatically under the customer account information on the home page of the Bank of Ireland app.  A carousel is presented with the three latest insights and an insight inbox retains all previously shown insights for 35 days.  Personal customers can view insights drawn from their current accounts and joint current accounts.

For information on Bank of Ireland’s financial wellbeing resources: Financial Wellbeing – Bank of Ireland UK