AIB has launched its first fully digital investment advice tool for customers via the AIB life hub on the bank's mobile app.
AIB said the new fully digital service will offer access to regulated investment advice and appropriate products while also making sure that customers are offered guidance on making investments that are suitable for their risk appetite or needs.
Research from the bank found that 75% of adults in Ireland are mostly managing finances through their mobile banking app, particularly those aged 25 to 44.
It also found that one in five adults are saving more than €125 a month, and one in ten are saving more than €500 a month.
But just under two thirds of adults have never invested, citing concern about a lack of knowledge as one of the main barriers.
Two thirds also say that just saving and not investing could be a missed opportunity to grow their money.
For those considering a medium to long term financial goal, the main motivations for saving include building a financial safety net, renovating their home, supporting their children and saving for a holiday of a lifetime, AIB said.
"It's a key priority for AIB to support all of our customers to feel more confident about managing their financial health, in whatever way suits them best, whether that's through our new end-to-end digital service in the AIB life hub on the AIB app or face-to-face with our financial advisors in our branches," AIB's Head of Wealth and Insurance Ciara Ryan said.
"It's interesting to see from the research that for those people who have never invested, one of the main barriers is a lack of knowledge. This is why it's important for AIB to embed comprehensive advice and guidance into this new digital investment option," she said.
"We are committed to supporting customers to feel more confident about their understanding of the options available to them, so that they can make the right choices to secure their financial future," she added.
