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Publication

International Financial Services 2020 Strategy (IFS2020)

Last updated: 12 March 2019
Published: 7 December 2018
From: Department of Finance

IFS2020

IFS2020 is the government’s strategy for the further development of the International Financial Services Sector in Ireland.

It is a five year whole-of-government strategy with substantial input from the private sector. The strategy covers the years 2015-2019.

In addition, Minister D’Arcy has established a Strategic Advisory Group (SAG) to assist with the development of a new Strategy for international financial services to succeed IFS2020.

The strategy’s vision is for Ireland to be the global location of choice for international financial services. The strategy was launched in March 2015.

The IFS2020 target is to grow the level of direct employment in the IFS sector from 35,000 at year-end 2014 to at least 45,000 people by year-end 2019, requiring the creation of a net total of 10,000 new jobs.

Implementation

The Minister of State for Financial Services and Insurance at the Department of Finance, Michael D’Arcy TD, is responsible for the implementation of the strategy.

The strategy is being implemented by means of annual action plans These action plans contain a list of measures that are to be actioned in that particular year and specify which organisation is to lead on each measure.

Read more about the IFS2020 implementation structures.

Strategic Priorities

The measures are listed under the following five strategic priorities:

  • promote Ireland as a location for IFS and world-class innovative products and services.
  • drive continuous improvement in the operating environment and competitiveness of Ireland’s IFS sector.
  • drive research, innovation and entrepreneurship in the IFS sector, with a particular focus on financial technology and governance, risk and compliance.
  • develop job-creation opportunities from emerging IFS sub-sectors and new markets.
  • the implementation framework for IFS 2020.

Further information on IFS2020 can be found below:

IFS Messaging Pack February 2019

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