Central Bank of Ireland - News, Articles & Research

Irish central bank sets new payments strategy as country lags rest of Europe

The Central Bank of Ireland has outlined a new multi-year payments strategy amid concerns that banks are failing to grasp the opportunities presented by instant payments.

04 March 2024

Company announcement/payments

Navro receives authorisation from the Central Bank of Ireland to provide payment services

Navro – the pioneering fintech firm formerly known as Paytrix that simplifies global payments for international businesses – today confirms that it has been authorised by the Central Bank of Ireland as an Electronic Money Institution (EMI). Under the terms of the licence, fast-growth businesses with international ambitions can benefit from Navro’s global payments curation services under the protection of European Union regulation.

09 February 2024

News/retail

Central Bank of Ireland warns of Credit Register error

The Central Bank of Ireland says it held the personal credit histories of thousands of people for longer than allowed, potentially making it harder for borrowers to get loans.

25 August 2023

News/payments

Bank-backed Irish payments app faces more delays

Synch Payments, the mobile payments joint venture set up by Ireland's leading banks, will not launch until at least next year after being told it needs approval under EU rules.

06 July 2023

News/crypto

Irish central bank governor compares crypto to ponzi scheme

Central Bank of Ireland governor Gabriel Makhlouf has compared cryptocurrencies to "ponzi schemes" and says there is "urgent need" for policy action to protect consumers.

10 May 2023

Company announcement/regulation

TransferMate secures e-money licence from Central Bank o Ireland

TransferMate, the world’s leading provider of B2B payments infrastructure as a service, has been granted authorisation as an Electronic Money Institution (EMI) by the Central Bank of Ireland.

27 April 2023

News/people

EML Payments CEO out as firm considers sale

Australia's EML Payments has parted ways with its CEO after less than a year and initiated a strategic review that could lead to a sell off, as it struggles to placate the Central Bank of Ireland over anti-money laundering deficiencies at its Irish subsidiary.

18 April 2023

News/security

Central Bank of Ireland blocks staff use of ChatGPT

Ireland's central bank has become the latest financial institution to ban its employees from using the artificial intelligence (AI) chatbot ChatGPT.

03 March 2023

News/regulation

Central Bank of Ireland warns payment firms about governance deficiencies

Ireland's central bank has fired a shot across the bows of payment and e-money firms after finding "significant deficiencies" in the governance, risk management and control frameworks of some in the sector.

01 February 2023

Company announcement/regulation

Danske Bank fined €1,820,000 by Central bank of Ireland for multi-year AML deficiencies

On 13 September 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined Danske Bank A/S, trading in Ireland as Danske Bank, €1,820,000 pursuant to its Administrative Sanctions Procedure for three breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010, as amended (the CJA).

15 September 2022

News/regulation

Irish central bank lays down new rules for BNPL providers

The Central Bank of Ireland is applying new consumer protection legislation to ensure that hire purchase, consumer hire, and buy now, pay later providers and services adhere to new rules under the direct authorisation of the Central Bank.

17 May 2022

Company announcement/regulation

BNY Mellon Fund Services fined €10.8 million by Irish central bank over outsourcing arrangements

On 22 March 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined BNY Mellon Fund Services (Ireland) DAC (BNY DAC or the Firm) €10,780,000 pursuant to its Administrative Sanctions Procedure (the ASP) for 16 regulatory breaches relating to the outsourcing of fund administration activities.

24 March 2022