Taoiseach officially opens Dell Bank in Ireland

Trade

Taoiseach Enda Kenny was on hand for the opening of Dell’s financial services arm in Ireland.

Following the award of a full commercial bank license by the Central Bank of Ireland at the end of June, Dell Financial Services will provide direct financing to business customers across Europe from its office in Cherrywood, Dublin.

Dell has invested €400 million in in the roll-out of Dell Financial Services in Europe. This includes start-up and employment costs in Ireland as well as the investment in acquiring customer portfolios that will be managed by the Irish-based team. The banks platform is supported by a team based in Limerick.

In the initial phase of Dell Financial Services, there will be 200 employees based at Cherrywood. This number is expected to grow to 300 within the next three years.

Aongus Hegarty, president, Dell EMEA, said: "This development is a further example of the continued investment in our Irish operations in Cork, Dublin and Limerick. "We are delighted with the support received from the Government and the Central Bank of Ireland which has enabled us to secure a full commercial banking licence. As a result, we plan to build out our financing business from here, facilitating our goal to bring a diverse range of financial solutions to our customers throughout Europe."

General manager for Dell’s financial services business in Europe Cormac Costelloe said: "Over the past 18 months we have been building a strong team of financial services experts in preparation for the launch of our financial services business in Europe. Now that we have secured a full commercial bank licence we are in a position to offer our customers finance for their IT solutions. With the access to finance barrier removed customers can focus on investing in their business rather than worrying about the infrastructure to run it.

"Dell Financial Services is just one more way in which Dell is supporting and contributing to the success of our customers. We are delighted to be able to deliver this service from Dublin and I look forward to working with the team in the months and years ahead to grow and scale the business."

TechCentral Reporters

Read More: Dell Job announcements