With its online capabilities RaboDirect is also expected to benefit from being free from the overheads associated with traditional banks, enabling it to provide a higher rate without penalties, fees or charges.
All transactions completed on RaboDirect use a security system developed by partners Vasco, which is based on the Digipass authentication tools. These operate by changing the customers’ online access code every 36 seconds. Full back up for the internet bank is provided by a customer contact centre.
According to Ralf Dekker, board member, Rabobank International, the Irish offering marks the firm’s second foray into an overseas country after it went live in Belgium in 2002 with its Rabobank.be online bank.
Rabobank has already established a presence in Ireland through its business arm ACCBank and its wholesale operation, Rabobank Ireland.
