MoCo

What MoCo does

MoCo is a digital-first Irish financial services provider operating as the Irish branch of Austrian banking group BAWAG Group AG, trading under the MoCo brand in Dublin (7/8 Upper Mount Street) and headquartered in Vienna at the parent's offices. The company entered the Irish market in 2023 with fixed-rate residential mortgages (3-year and 5-year terms priced at 3.45–3.80% depending on LTV) and extended its product set in 2025 with a high-interest Easy Saver savings account paying 2.6% AER promotional (until November 2026) and 2.1% AER variable. It serves Irish retail consumers — first-time buyers, home movers, mortgage switchers, and retail savers — and explicitly excludes US citizens due to tax-reporting constraints.

The operating model is fully digital with no physical branches. Mortgages are originated exclusively through a panel of independent Central Bank of Ireland-authorised brokers accessible via MoCo's broker finder tool; savings accounts are opened end-to-end online through the MoCo Savings Hub, typically in under five minutes using passport-based biometric identity verification via Mitek Systems and open banking transaction retrieval via Yapily Connect. Pepper Advantage handles post-origination credit servicing including the Mortgage Arrears Resolution Process. MoCo is regulated by the Austrian Financial Markets Authority and the Central Bank of Ireland, with deposits protected up to €100,000 under the Austrian Einlagensicherung AUSTRIA Ges.m.b.H. scheme.

The revenue model is a net-interest-margin business: MoCo funds mortgage lending with retail savings deposits and earns the spread between deposit costs (2.1–2.6% AER) and mortgage lending rates (3.45–3.80%), supplemented by mortgage fees (€199 valuation, €95 security release) offset against €1,500 cashback paid to mortgage customers. The Irish entity is small (1–10 employees, CEO Patrick Good), with operational scale and balance sheet provided by BAWAG Group, which serves over 4 million customers across Europe and the United States and reported €40bn+ in retail and SME deposits and €25bn+ in customer mortgages as of December 31, 2024.

Name

MoCo

Legal name

BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

Website

https://moco.ie

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

MoCo is a digital-first Irish bank offering fixed-rate residential mortgages and high-interest savings accounts to Irish retail consumers, operating as the Irish branch of Austrian banking group BAWAG Group AG.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Digital Banking & Neobank Platforms (BPAMAFAD)

akta.pro secondary industry

Retail-focused Neobanks (Mass Market) (FSABAFAA)

Keywords

• Retail savings accounts
• Residential mortgages
• Digital banking
• Deposit accounts
• Mortgage lending

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Mortgage Interest Income: MoCo earns interest income on its mortgage lending portfolio. The company offers fixed-rate mortgages (3-year and 5-year terms) with rates ranging from 3.45% to 3.80% depending on LTV ratio. Mortgages are originated through a broker channel in Ireland.
2. Savings Deposit Interest Spread: MoCo pays interest on customer savings deposits (2.6% AER promotional rate, 2.1% AER variable rate) and earns the spread between what it pays depositors and what it earns on its mortgage lending portfolio. The company is backed by BAWAG Group which had customer mortgages exceeding €25bn as at December 31st, 2024.
3. Mortgage Fees: MoCo charges fees for mortgage services including valuation fees (€199) and security release fees (€95). The company also offers €1,500 cashback to mortgage customers which is a promotional incentive.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

MoCo is a digital-first Irish retail bank offering high-interest savings accounts (2.6% AER promotional rate) and fixed-rate residential mortgages (3-year and 5-year terms) to Irish consumers. Savings accounts are opened entirely online via the MoCo Savings Hub with passport-based identity verification, while mortgages are distributed exclusively through a panel of independent mortgage brokers with a fully online application process.

Product overview

MoCo is a digital-first Irish financial services provider offering two core products: savings accounts and mortgages. The savings product is a high-interest account with competitive rates (2.6% AER promotional) and fully digital account management through the MoCo Savings Hub. Mortgage offerings include fixed-rate products (3-year and 5-year terms) distributed exclusively through selected mortgage brokers, supported by an online application platform. The company operates without physical branches, providing all services digitally. MoCo is the trading name of BAWAG's Irish branch, part of the Austrian BAWAG Group AG.

Differentiator

Problem solved

Functional benefit

Products and services

• MoCo Savings Account High-interest savings account for Irish residents offering 2.6% AER promotional rate (until November 2nd, 2026), 2.1% AER variable rate thereafter, daily interest payments, instant access withdrawals with no fees, automatic DIRT tax management, and protection under the Austrian Deposit Guarantee Scheme up to €100,000.
• MoCo Fixed Rate Mortgages Fixed-rate residential mortgage products with 3-year and 5-year term options for Irish home buyers and switchers. Rates range from 3.45% to 3.80% APRC depending on LTV ratio. Includes €1,500 cashback for all mortgage customers, €199 valuation fee, €95 security release fee, equity release options for switching, and overpayment flexibility up to 10% per annum without fees.
• MoCo Savings Hub Online customer portal for savings account management, providing secure account access, balance viewing, transaction statement generation, fund withdrawals, and secure messaging with customer support. Account opening typically completed in under 5 minutes using passport verification.

Quantifiable outcome

• 2.6% AER savings rate vs Irish market average of 0.13-0.14%
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Mitek SystemscoreTechnology or IntegrationMitek Systems provides identity verification technology used during MoCo's account opening process. Customers verify their identity by photographing their passport using their mobile device, with Mitek's technology processing the biometric data to confirm identity.
• Yapily ConnectcoreTechnology or IntegrationYapily Connect provides open banking integration allowing MoCo mortgage applicants to supply bank transaction data digitally without providing physical bank statements. This streamlines the mortgage application process by allowing secure digital access to financial information.
• Pepper AdvantagecoreTechnology or IntegrationPepper Advantage provides credit servicing for MoCo's mortgage customers after loans have been drawn down. They support customers with financial difficulties, managing the Mortgage Arrears Resolution Process (MARP), and handling arrears-related customer support.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Raisin: Pan-European savings marketplace that aggregates deposit products from multiple European banks for retail customers. Explicitly mentioned in Irish media coverage alongside MoCo as a comparable new entrant offering competitive savings rates to Irish consumers.
• Revolut: Global neobank with deposit and savings products available in Ireland through its e-money and banking licenses. Competes for the same digitally-native Irish retail customer seeking higher returns on deposits.

Direct peers

• Bunq: European neobank operating across multiple EU markets with savings products and multi-currency accounts. Mentioned alongside MoCo in Irish media as a comparable new-market digital entrant disrupting Irish deposit pricing.
• Avant Money: Irish mortgage and personal loan challenger lender backed by First Union Group, offering competitive rates to Irish consumers. Direct competitor in the Irish retail mortgage market with a similar digital-first value proposition.
• ICS Mortgages: Irish mortgage provider operating as a Dilosk brand, offering competitive residential mortgages through broker channels. Direct competitor targeting similar mortgage-switching customers as MoCo in the Irish market.
• Finance Ireland: Irish non-bank lender offering residential mortgages and home loans, often through broker channels. Direct competitor in the Irish mortgage market with similar broker-distributed model and competitive pricing strategy.

Broad incumbents

• Permanent TSB: One of Ireland's pillar banks offering residential mortgages and savings products. Represents the incumbent competition MoCo is challenging, with established branch network and customer base in the Irish market.
• AIB (Allied Irish Banks): Ireland's largest pillar bank, dominant in residential mortgages and deposits. The primary incumbent competitor whose slow deposit-rate adjustment creates the rate arbitrage opportunity MoCo exploits.
• Bank of Ireland: One of Ireland's pillar banks offering mortgages, savings, and current accounts with a national branch network. Key incumbent competitor whose pricing decisions shape the competitive landscape MoCo operates within.
• N26: Pan-European digital bank offering current accounts and savings features across multiple EU markets including Ireland. Comparable as a European digital bank expanding cross-border with similar regulatory structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mocomortgage

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MoCo