The Central Bank has entered a deal with a Dutch company to monitor social media platforms as part of its security threat intelligence operation.

Last year, the Central Bank agreed to pay Comparex €193,590 over a three year period if the bank proceeds with the full extent of the contract.

The software will be used to identify potential threats and hostile sentiment to the Central Bank in order for its security teams to better protect it, according to a spokesperson for the regulator.

"Comparex is a software reseller that is a member of a procurement framework operated by the European Procurement Coordination Office (EPCO) on behalf of participating central banks," she said."The term of the contract for the procured product is for an initial twelve months, with an option to extend for a period or periods of up to twelve months to a maximum of twenty-four months."

The figures show that the largest payout for security IT services by the Central Bank was to Dublin-based Bianconi Research trading as RITS which last year received €248,000 for 'Information Security Professional Services'.

One of the three contracts secured by RITS related to a payment of €68,000 for a 48 day period of work.

The Central Bank last year also paid out €100,000 to Derry based Metacompliance Ltd for 'Information Security Phishing Simulator'.