It is just over a year since KBC’s announced its ‘digital-first' strategy for Ireland. Since then, the bank has launched Apple Pay, Google Pay and FitBit Pay and made it possible for new customers to open a current account in five minutes.
Continuing with the trend of offering digital features to customers, the bank has announced that it will soon be possible to apply for a loan or overdraft from a mobile phone, and potentially receive the money in less than 60 minutes.
New and existing customers will soon be able to apply for loans of between €5,000 and €20,000 and overdrafts of between €300 and €7,000 from their mobile phones.
KBC is committing to providing a credit decision and the loan or overdraft money under an hour.
KBC customers will be able to drawdown loans of up to €20,000 by following five steps:
1. Submit requested application amount
2. Review and update their personal details, as necessary
3. Submit a payslip or bank statement via mobile
4. Accept the terms and conditions
5. Receive funds within an hour
After years of stagnation, current accounts are competitive in Ireland once again.
Banks are competing heavily for new customers with the addition of new digital features, such as Apple Pay and Google Pay.
Currently, AIB, KBC and Ulster Bank are the only banks to offer Apple Pay and Google Pay in Ireland, but there could be a wave of new innovations on the horizon, thanks to PSD2 coming into effect in January.
We’re Ireland’s leading price comparison and switching site. We’re free to use and make comparing prices across suppliers quick and easy!
We save you time by bringing you all the best deals in one place. Every year we help tens of thousands of customers to switch and save money!
We’re 100% impartial and are also accredited by the Commission for Regulation of Utilities (CRU) as an impartial, accurate and independent supplier of energy price comparisons.