FSI releases five-year strategy for future competitiveness
Financial Services Ireland (FSI), the Ibec group representing the financial services industry in Ireland, has published its new five-year industry strategy, ‘Securing Future Competitiveness’. Covering the 2026 to 2030 period, the strategy provides a roadmap to protect and drive forward Ireland’s position as a competitive financial centre for domestic and international companies. It also identifies the steps needed to support job creation, drive a domestic retail culture of investment, and expand our offering in competitive, high-growth areas such as private markets, AI and digital finance.
The financial services sector is already a cornerstone of the national economy, employing 112,000 people. FSI will work closely with government and regulatory bodies to introduce policies that protect the industry and position it to win strategic, high value-add activities and products. The ultimate objective is a well-functioning, resilient financial sector that has well-informed buy-in from domestic investors, and positions Ireland as a progressive, competitive place to do business for financial services firms.
Launching the strategy at Government Buildings, an Tánaiste and Minister for Finance Simon Harris said: “Rapid digitalisation has transformed the financial sector over the past decade, impacting both the nature of activity carried out and the skills required to support this. Strategic responses are needed to address emerging trends, including AI, and adapt to a constantly evolving landscape.
FSI’s new roadmap for ambition reflects many of our shared public and private sector priorities. These include a focus on increased competitiveness, supporting our deep talent pool and increasing our retail investor participation rates to empower households to secure their long-term financial future.
Work is underway on Ireland for Finance 2026–2023, which will further articulate our vision for this sector, and which will be delivered in collaboration with key partners, including FSI.”
Highlighting some of the opportunities open to the financial services sector, FSI Chair and CEO, Irish Life Group Declan Bolger said: “This strategy sets out the roadmap to drive the next phase of growth for Ireland’s financial services industry, ensuring that Ireland not only maintains its competitive position, but can also grow in new areas.
In this respect, the EU Savings & Investment Union is an especially tangible and time-sensitive opportunity. Our established fund management and insurance infrastructure, together with emerging fintech capabilities positions Ireland to offer excellent long-term investment products to Irish domestic investors and to become a hub for the development of products that will help deliver the SIU's objectives across the EU.
The first action we are taking is creating a blueprint for a simplified, tax-efficient investment vehicle for Irish consumers. We want to work closely with Government and other stakeholders to develop common ground on this critical first step. As part of Ibec, we will join forces with other industries wherever possible on our priority issues, and drive success in critical areas of competitiveness.”
Positioning Ireland as an ideal base for forward-thinking companies, the strategy sets out FSI’s ambition to accelerate artificial intelligence, fintech and digital finance growth, including support for the development of a National Fintech and Innovation Hub. Ireland is already the location of choice for many firms developing and deploying AI, so it is vital to remain at the cutting edge of technology.
FSI Director Patricia Callan said: “This strategy is our commitment to help grow the economic contribution of financial services in Ireland over the coming five years. We have strong foundations, but global competition is intense and the pace of technological and regulatory change is accelerating.
For Ireland to win against this backdrop, a collaborative approach will be required across all stakeholders, including industry, Government, and state agencies. The potential is enormous and we will approach the next five years with energy and determination to further grow the sector’s contribution to the economy.”
Maintaining Ireland’s competitiveness is a key goal of the strategy, given other jurisdictions’ efforts to attract investment. Supporting business in this case means regulation, policy and industry being in balance, a stable and competitive tax framework, as well as the delivery of critical national infrastructure such as housing, transport and energy.
Finally, given the ever-evolving complexities of financial services and changing expectations of consumers, FSI will continue to champion initiatives to ensure that Ireland has a workforce with the skills required to support future growth, particularly in digital transformation and AI.
For more details on this strategy, please contact:
David Keelaghan
Senior Strategic Communications Executive
Financial Services Ireland (Ibec)
Phone: 01-605-1772
Mobile: 087-396-0690
