FSU welcomes positive banking roundtable discussions in Northern Ireland

A banking forum involving stakeholders from Northern Ireland and the Republic of Ireland is a critical next step says FSU.

The Financial Services Union (FSU) have today welcomed the hosting of the third banking roundtable review by the Minister of Finance in Northern Ireland. The event took place this morning in Pavilion, Stormont, Belfast. Relevant stakeholders who attended included the Financial Conduct Authority, representatives of the Banking and Credit Union sector, Cash UK, the Consumer Council of Northern Ireland, the FSU and other interested parties.

Commenting after the meeting John O’Connell, General Secretary of the FSU said:

“The FSU are very appreciative of the Minister of Finance for hosting today’s meeting. We welcome the opportunity to meet and discuss issues involving the future of the banking sector with other relevant stakeholder and sharing ideas for the future.

The agenda covered issues from how artificial intelligence should be integrated into the workplace, remote and hybrid working, banking hubs and the forced digitalisation and level of service in retail banking. The FSU were delighted to present our research on the effects of AI on employees in the financial services sector and our experiences of handling the differing opinions of the benefits of remote/hybrid working.

We look forward to further discussion on these issues as we navigate a path in an everchanging sector.

It is nearly four years since the banking review took place in the Republic of Ireland. Thirty-four recommendations came out of that report with good progress made on a lot of areas including the new Central Bank consumer code, the new financial literacy strategy, and the access to cash legislation.

The FSU made a strong case at todays meeting for a joint banking roundtable meeting to be held on the future of banking on the Island of Ireland hosted jointly by the Minister of Finance in Northern Ireland and the Minister for Finance in the Republic of Ireland. We share many of the same issues and a joint approach can only be beneficial to resolving concerns and building an improved banking sector that serves the needs of staff, business and the wider communities  of Northern Ireland and the Republic of Ireland”

ENDS

Notes to Editor

Copy of the FSU submission to today’s banking roundtable meeting: https://www.fsunion.org/assets/files/pdf/fsu_submission_to_the_banking_roundtable_northen_ireland.pdf

Copy of FSU research into effects of AI in the financial services sector

- FSU Accounting for Workers in the Age of AI: https://www.fsunion.org/assets/files/pdf/fsu_accounting_for_workers_in_the_age_of_ai.pdf

- AI Impact on Financial Services Employment - Recommdations: https://www.fsunion.org/assets/files/pdf/ai_impact_on_financial_services_employment_-_recommendations.pdf

- AI Impact on Financial Services Employment - Survey Results: https://www.fsunion.org/assets/files/pdf/ai_impact_on_financial_services_employment_-_figures.pdf