The seven-year agreement with Accenture will result in savings of more than €20 million per year. It is expected that the new services will be implemented within a number of months.

Along side the agreement a new HR structure will be implemented over the coming months and will transform and streamline the provision of HR services to the business.

BoI announced its transformation programme in March of this year and at its interim results announcement on 24 November, the bank expressed confidence in achieving the first year savings target of €30 million.

BoI will work closely with its employees and Accenture over the coming months to ensure a smooth transition of these services. In all approximately 180 employees are impacted by this agreement. They will either be retained within the training and purchasing areas, transfer to Accenture, be redeployed within Bank of Ireland or have an option for voluntary redundancy.

Related link: View the latest career openings with Accenture