Securing Ireland’s financial future

Act now to secure our financial services future

Ireland’s next Ireland for Finance strategy (2026–2030) is a pivotal opportunity to reinforce the country’s position as a leading international financial services (IFS) hub—strengthening competitiveness, accelerating innovation, and deepening resilience.

In our recent submission to the Department of Finance consultation, KPMG outlines a focused vision anchored in four growth areas, underpinned by talent and infrastructure enablers, and supported by pragmatic policy and regulatory steps.

Why this matters now

The pace of change across financial services is unprecedented, driven by emerging technologies, evolving customer expectations, and new market structures.

Ireland starts from a strong base: three decades of IFS growth since the IFSC’s establishment, a robust EU‑aligned regulatory and legal framework, an educated, multilingual workforce, and an established ecosystem spanning banking, insurance, asset management, aviation finance and more.

Yet global competition is intensifying, and Ireland must move decisively to stay ahead.

Ian Nelson

Head of Regulatory, Head of Financial Services

KPMG in Ireland

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Where to focus (2026–2030): Four growth areas

Digital finance & fintech
Sustainable finance
Tax environment
Regulatory landscape

Ireland’s payments and fintech landscape is accelerating, guided by the National Payments Plan (2024) and its four principles—Access & Choice, Security & Resilience, Innovation & Inclusion, and Sustainability & Efficiency.

With SEPA Instant Payments becoming mandatory and new consumer protections via PSD3 and the Payment Services Regulation, Ireland can lead in Open Banking and account to account (A2A) payments.

To capture this opportunity, we recommend outcome based regulatory experimentation (e.g., for Open Banking, AI, digital identity, tokenised assets), creation of a National Synthetic Data Trust to safely test at scale (payments, AML, credit risk), and a single national innovation hub co locating regulators, investors and corporate labs.

Streamlining authorisations, while maintaining standards, will be essential to sustain competitiveness.

The European Climate Law sets binding EU wide targets (55% GHG by 2030; net zero 2050). Ireland is currently off track, with IFAC and the Climate Change Advisory Council estimating potential costs of €8–€26bn if we fall short.

At the same time, physical climate risks are rising (e.g., record global temperatures in 2024 and recent severe storms). This context creates a sizable opportunity to mobilise transition and adaptation finance.

Priorities include:

aligning the Ireland Strategic Investment Fund’s mandate to Climate Action Plan objectives;
scaling adaptation finance (in light of the CBI’s Flood Protection Gap analysis showing concentrated shortfalls in Dublin, Cork, Kildare, Clare and Louth, with ~1 in 20 buildings facing limited flood cover today); and
extending leading climate risk management practices across banking, asset management and credit unions.

Ireland should also accelerate renewable deployment (onshore/offshore wind, solar, biomethane), support energy security, and harness the data centre ecosystem through coordinated financing.

The UNDP Project Office presence should deliver tangible, localised benefits by connecting Irish institutions with global sustainable finance tools and networks.

Tax is a strategic lever for competitiveness, not just a revenue instrument.

We recommend implementing Funds Sector 2030 tax measures without delay; refreshing the funds product suite (including an indirectly regulated option) to remain competitive with regimes such as the UK’s QAHC and Luxembourg’s RAIF/ELTIF 2.0; introducing an effective, internationally credible carried interest regime; simplifying complex rules (e.g., interest deductibility) and administration through a potential Office of Tax Simplification; refining Section 110 (e.g., reassessing 2011 anti avoidance provisions in light of anti hybrid and interest limitation rules, extending the 8 week notification); and removing the 1% stamp duty on share trading to help revitalise the domestic exchange.

These changes would enhance stability, support innovation, and attract senior talent and capital.

Ireland should reinforce a level playing field—avoiding “gold plating”—so incumbents can scale and new entrants can thrive. Early stage support through sandboxes and clear authorisation pathways will foster safe experimentation.

We also call for a single, coherent external “view” of the Irish regulatory environment across industry, trade bodies and Government to reduce duplication, enhance predictability, and protect Ireland’s international reputation.

Balanced data protection alignment with EU standards, a clearer forward looking regulatory roadmap, and product development focus (particularly for private and alternative assets) are critical to sustain competitiveness.

Implementation: the enablers that unlock growth

Talent

Ireland needs a steady pipeline of multilingual professionals spanning finance, technology, compliance and ESG.

We advocate scaled upskilling in AI, cybersecurity and sustainable finance; practical financial literacy at second level (building on existing initiatives); and expanded specialist programmes at third/fourth level delivered through stronger partnerships between universities, technology companies and financial institutions.

Addressing cost‑of‑living pressures (housing, transport, childcare) is vital to attract and retain talent—alongside a flexible labour market, improved visa/work‑permit/driving‑licence processes, and a refined SARP to remain competitive with peer locations.

Finally, proactive marketing via IDA and Enterprise Ireland should continue to position Ireland as a niche location for front‑ and middle‑office functions and digital‑infrastructure investment.
Infrastructure

Housing supply and affordability—especially in Dublin—are gating factors for talent attraction and retention; regionalisation of IFS activity can help if supported by wider infrastructure.

Grid capacity must keep pace with data‑centre growth and electrification. While the National Development Plan foresees major upgrades, achieving 80% renewable electricity by 2030 will require accelerated renewables deployment and policy support. Digital connectivity (broadband, cloud, cybersecurity, 5G) is an IFS necessity.

Additional priorities include: agile, transparent regulation; efficient tax administration and treaty network management; robust data‑protection and cyber frameworks; active EU policy engagement (post‑Brexit, Ireland has a unique influence point); and strong international and regional transport links, including sufficient direct routes to global financial centres.
Measuring success

Dublin placed 14th globally in the latest Global Financial Centres Index (GFCI 37). Our ambition for 2026–2030 is to improve Ireland’s standing by building on 35+ years of sector strengths while driving innovation, maintaining an agile tax, legal and regulatory environment, and delivering the talent and infrastructure that enable growth.

Ireland should also leverage its upcoming EU Presidency to shape EU policy on Capital Markets Union, sustainable finance and financial digitalisation—advancing national interests and European market development.

About KPMG’s submission

KPMG is a leading provider of audit, tax, consulting and deal advisory services to financial services in Ireland and internationally.

Our submission reflects deep sector experience across regulation, technology, tax and transactions, and provides a practical roadmap to secure Ireland’s financial services future.

Submission to the Department of Finance’s Consultation on Ireland for Finance Strategy 2026-2030

(PDF, 2.1MB)

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Get in touch

If you have any queries related to the Ireland for Finance 2026–2030 strategy—or would like to discuss the implications for your organisation—please contact Ian Nelson of our International Financial Services team below.

We’d be delighted to help you plan next steps and put this strategy to work.