Ireland as a Centre of Technology Excellence
Fernando Vicario
CEO of Bank of America Europe DAC and Country Executive for Ireland
Technology is an important driver of innovation and change. Among the many reasons Bank of America has invested in Ireland are for its digital strengths, including its strong base of talented technologists with niche skills.
Our EU headquarters in Dublin is not only an operational hub, but also a technology centre of excellence that significantly contributes to Bank of America’s ability to deliver industry-leading services to its clients.
The Dublin Development Lab, or DublinDevLab as it’s known, is a software development centre that supports Bank of America’s tech programmes on a global, flexible basis, with a particular focus on enterprise-wide risk and finance.
The DublinDevLab also offers staff digital training and resources to help them research emerging technologies. Programmes include the Tech4All and Learning Clubs, helping to upskill hundreds of employees in Ireland and across the region, and innovation events such as the global DevCon Summit and the Enterprise Risk and Finance Technology Innovation Challenge Accelerator Day.
DublinDevLab is not Bank of America’s only source of digital innovation in Ireland. CashPro® is Bank of America’s digital banking platform, and the Dublin CashPro team supports this platform across Europe.
Bank of America has been proud to partner with the American Chamber of Commerce in Ireland to convene events that allow participants to share their knowledge and insights into digital innovation, for example sponsoring AmCham’s Global Business Conference at Croke Park that draws leaders from some of the biggest companies present in Ireland.
A leading innovation destination
There are good reasons our technology ambitions are being realised in Ireland. The country has one of the world’s best education systems. Scores in literacy, maths and science are well above OECD averages. Ireland also boasts excellent universities, some of which we work with directly. We’ve been proud to assist Trinity College Dublin Library with the digitising of early Irish manuscripts through our global Art Conservation Project.
Alongside Ireland’s home-grown expertise, the country enjoys freedom of movement with both the European Union and the United Kingdom, making it the ideal place to centralise European talent. So too does its supportive business environment, with the government prioritising the connectivity needed to grow Ireland’s $50 billion digital sector.
As elsewhere, Ireland’s tech sector faces challenges, from talent shortages to changing global trade relationships.Nevertheless, its competitive advantages are such that Ireland remains among the top five destinations for direct investment by US multinationals, with US tech companies being particularly active.
Technology is only becoming more vital to financial services. Bank of America is confident that Ireland, with its core of talent and infrastructure and its strong international relationships, will remain central to our efforts to cultivate the digital skills and capabilities that will underpin future growth and innovation.
