Banking & Alternative Finance

Banking & Alternative Finance

In the dynamic landscape of financial services, both banks and alternative finance institutions play pivotal roles in driving economic growth. Complexities and challenges inherent in this industry include navigating the intricate regulatory environment, optimising operational efficiency, and ensuring sustained financial health. 
Our dedicated team of experts offers comprehensive solutions ranging from external and internal audit, risk management and compliance, to strategic planning and technology integration. With a client-centric approach focused on finding solutions, at BDO, we are committed to fostering the success of banks and alternative finance providers by delivering insightful solutions that align with your specific needs, thereby enabling you to thrive in an ever-evolving financial landscape.

Banking and Alternative Finance Clients We Work With

Retail banking focuses on individual consumers, offering a spectrum of everyday financial products and services, from savings and current accounts to loans and credit cards designed for personal financial management.  

Business banking extends its support to small and medium-sized enterprises (SMEs), addressing their specific financial requirements with customised solutions such as business loans, accounts, and financial solutions.  

Corporate Banks provide comprehensive financial solutions for larger companies with more complex financial needs, offering services like treasury management and international trade finance. 

BDO offers tailored solutions to help retail, business, and corporate banks navigate their unique challenges. From regulatory compliance to technology adoption, our expertise in banking and financial services enables us to provide strategic guidance and practical solutions. Whether it's regulatory compliance audits, technology implementation, or risk management advisory, BDO empowers banks to optimise operations, enhance customer satisfaction, and drive growth in today's dynamic banking landscape.  

A money lender is an individual or financial institution that provides loans to borrowers in exchange for interest or other agreed-upon terms. Money lenders may operate formally as part of established financial institutions, such as banks or credit unions, or informally as individuals or private entities. Money lenders play a crucial role in the financial system by facilitating access to capital for individuals and businesses, especially when traditional banking sources may be unavailable or less accessible.  

The terms and conditions of loans provided by money lenders can vary widely, including interest rates, repayment schedules, and collateral requirements. It's important for borrowers to carefully review and understand the terms of any loan agreement before entering a borrowing arrangement with a money lender.  

BDO offers specialised support to money lenders in navigating their unique challenges. From risk management to regulatory compliance, our expertise in financial services enables us to provide strategic guidance and practical solutions. We assist money lenders in implementing responsible lending practices to mitigate financial risks while ensuring compliance with regulatory requirements. Additionally, our advisory services help money lenders adapt to digital transformation and fierce competition, enabling them to balance profitability and customer satisfaction effectively. 

Non-bank lenders and retail credit firms are financial institutions that provide lending services outside the traditional banking sector. These entities play a significant role in the financial ecosystem by offering various loan products to consumers and businesses. Unlike banks, non-bank lenders may not accept deposits from the public and are not subject to the same regulatory requirements as traditional banks. 

These institutions often utilise innovative technologies and alternative underwriting methods to assess creditworthiness and determine loan eligibility. They may leverage data analytics, machine learning algorithms, and alternative credit scoring models to make lending decisions efficiently and accurately. 

Non-bank lenders and retail credit firms face various challenges. While they offer valuable financial services to underserved markets, they must ensure responsible lending practices to mitigate financial risks and protect consumers. Intense competition from traditional financial institutions and fintech players underscores the importance of differentiation in what they bring to the market. Striking a balance between profitability and responsible lending practices remains a perpetual challenge in this dynamic financial landscape. 

BDO provides specialised support to non-bank lenders and retail credit firms, offering expertise in regulatory compliance, risk management, technology adoption, and strategic advisory services. Our tailored solutions help these institutions navigate regulatory complexities, optimise lending operations, and achieve sustainable growth in today's dynamic financial landscape.  

Credit servicing firms are financial entities that manage and administer loan portfolios on behalf of lenders, investors, or owners of debt assets. These firms play a crucial role in the financial ecosystem by providing specialised services related to the administration and servicing of loans, including mortgage loans, consumer loans, commercial loans, and distressed debt. 

Credit servicing firms face various challenges. They must adhere to stringent regulatory requirements governing loan servicing practices and consumer protection laws. Additionally, they must manage credit and operational risks associated with loan portfolios, including credit defaults, interest rate fluctuations, and economic downturns. 

Intense competition highlights the need for differentiation, while balancing profitability with responsible servicing practices remains a strategic challenge. These firms must address data security concerns and navigate legal and compliance issues to ensure adherence to regulations in loan servicing activities. BDO offers specialised support to credit servicing firms, helping them navigate regulatory complexities, optimise operations, and achieve sustainable growth in a competitive landscape. 

Credit unions and institutions are integral to the financial landscape, offering diverse financial services to members and contributing to community development. Whether public or private, these member-owned cooperatives and institutions face various challenges, including navigating regulatory complexities, adapting to economic fluctuations, and addressing cybersecurity risks. Additionally, they must contend with the need for continuous technological upgrades, competition from traditional banks and fintech, and the demand for skilled talent. Challenges also encompass membership growth for credit unions and ensuring financial sustainability for institutions in a dynamic financial environment. 

BDO understands the unique challenges credit unions and institutions face in today's dynamic financial landscape. Our team provides tailored solutions that address the specific needs of each institution, whether it's enhancing membership growth strategies for credit unions or fostering financial sustainability for institutions. With our expertise in regulatory compliance, risk management, and strategic advisory services, we partner with credit unions and institutions to navigate industry challenges and seize opportunities for growth. 

Solutions We Offer

Statutory Audit Tax Dispute Resolution Tax Structuring & Advice Transfer Pricing Corporate Tax Compliance Indirect Tax Advice & Compliance M&A Due Diligence Withholding Tax Advice and Compliance R&D Tax Credits Transaction Structuring Cyber & Information Technology  IT Risk Advisory and Assurance Forensics Investigations  Internal Audit Outsource & Co-Source  Governance, and Risk Management Assurance & Advisory Regulatory Compliance Assurance & Advisory Regulatory Authorisations Assurance & Advisory Economic Crime and Fraud Prevention Assurance & Advisory Regulatory Reporting & Engagement  Upstream Regulatory Developments Outsourcing & Safeguarding Risk  Operational Resilience  SOx Compliance Accounting and Finance Assurance & Advisory Recruitment & Flexible Staffing Employment Tax Payroll HCM Technology Sustainable Performance Licensing & Export Controls Statutory Compliance Overseas Company maintenance Advisory & Restructuring Services Governance, Company Law & Regulatory Client Support & Administration Services Receivership

Contact us to discuss solutions for your business needs

Angela Fleming

Angela Fleming

Partner & Head of Financial Services Tax, BDO Dublin
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Richard Warren-Tangney

Partner Financial Services, BDO Dublin
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Ciara Hanrahan

Director - FS Risk & Advisory Services, BDO Dublin
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Niamh O'Brien

Niamh O'Brien

Director, BDO Talent Management, BDO Dublin
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