Bank of Ireland is planning to outsource its cheque clearing unit to a Texas-based external provider called BancTec.
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The lender has inked a seven-year deal with BancTec and intends to transfer over this activity in the second quarter of 2015.
The bank said that the move follows a strategic review, and reflects the decline in cheque usage in the face of a digital wave in banking. The move will affect the lender’s 130 staff.
All affected staff will be given the option to move to BancTec as part of the contract, look for redeployment opportunities within the bank itself, or take voluntary redundancy.
The bank added that it will also retain a number of employees in the area.
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By GlobalData
