AIB agrees €65m cyber resilience contract with IBM

AIB has signed a €65 million three-year contract with IBM to provide it with enhanced cyber resilience and fraud detection capabilities.

Under the agreement, the tech giant will provide the bank with a z15 mainframe and related services. In doing to, AIB is following in the footsteps of other financial institutions, including Britain's Nationwide and Singapore's DBS Bank, by adopting the z15 as a critical part of its mainframe modernisation efforts.

The z15 integrates hybrid cloud, data privacy and security controls, and promises a better performance and increased efficiency. The new platform includes advanced data analytics and process automation tools and will enable enhanced system availability capabilities.

"As we accelerate into the future of banking, we need the most advanced technology to underpin our ongoing digital transformation efforts," said Fergal Coburn, group chief technology officer at AIB.

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“IBM technology has been the backbone of our service delivery for over 30 years and this agreement maintains our relationship in the innovation space.

“This will be a core contributor in ensuring that we achieve the key technology objectives that underpin our 2023 strategic ambitions and to meet the challenges faced in our industry,” he added.