Traditional financial services companies across Ireland the Republic and the UK are under threat from new Internet-based players according to a new report commissioned by IT services and consultancy firm Cap Gemini. A Blueprint for Financial Services is an independent report based on research and interviews with key business leaders from blue-chip companies operating here and in Britain.

The managing director of Cap Gemini, Mr Eamonn Doyle, says "the recent impact of the Bank of Scotland on the Irish market blows apart the conventional wisdom that the Irish market was too small or already too competitive to attract outsiders."

The Internet enabled phone is also expected to deal a hard blow to the long suffering bank branch and some industry insiders believe that access through mobile phone devices will become the dominant channel for banking. The report is available from Cap Gemini at (01) 6390100 or at www.capgemini.ie