Global: Bank of Ireland and Stripe deepen partnership to accelerate digital transformation

Bank of Ireland (BoI) has entered into a new partnership with Irish payments technology company Stripe as part of efforts to accelerate its digital transformation and expand the use of artificial intelligence across its operations.

The bank described the agreement as a “key milestone” in its transformation programme, with both companies expected to collaborate across several areas, including the integration of Stripe’s AI capabilities into BoI’s core operating systems.

The partnership is intended to support faster, more reliable digital services while helping the bank modernise its technology infrastructure and improve customer experiences.

Stripe expands relationship across Bank of Ireland Group

Stripe already works with Davy, Bank of Ireland’s wealth management and stockbroking subsidiary. A similar partnership is also expected to commence between Stripe and New Ireland Assurance, the group’s life and pensions business.

The expanded relationship will allow Stripe’s technology to be deployed across additional parts of the banking group, extending beyond its existing payments and financial services engagements.

“We’ve been working with Bank of Ireland Group for several years,” said Conor McNamara, Stripe’s chief revenue officer for EMEA.

“Deepening that relationship is now about going further and bringing the same level of speed and reliability to other areas so they can move faster for their customers.”

BoI increases focus on digital payments and AI

The agreement comes as Bank of Ireland steps up its investment in digital payments and artificial intelligence.

In March, the bank launched Zippay, a mobile-to-mobile payments service designed to facilitate digital transfers between users. It has also introduced Benefits Finder, an AI-powered tool that helps customers identify tax benefits and reliefs they may be eligible to claim.

The latest partnership with Stripe is expected to build on these initiatives by embedding more AI-driven capabilities into the bank’s broader operating environment.

Susan Russell, CEO of Retail Ireland at Bank of Ireland, said Stripe’s Irish roots and technology expertise made it a strong partner for the bank’s digital ambitions.

“Stripe is a great success story, with a strong Irish heritage,” Russell said. “We look forward to working with their team to further enhance our technology and accelerate AI integration to improve services for customers.”

The partnership reflects a wider shift among established financial institutions towards strategic collaboration with fintech companies to modernise legacy systems, improve operational efficiency and deliver more responsive digital services.