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

IBM will provide the bank with a "z15" mainframe, which integrates hybrid cloud, data privacy and security controls.

AIB said the new IBM technology platform will further enhance its cyber resilience and fraud detection capabilities, ensuring its digital services remain highly performant, available and secure for its customers.

Fergal Coburn, Group Chief Technology Officer of AIB, said that as the bank accelerates into the future of banking, it needs the most advanced technology to underpin its ongoing digital transformation efforts.

"IBM technology has been the backbone of our service delivery for over 30 years and this agreement maintains our relationship in the innovation space," Mr Coburn said.

"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.

Deborah Threadgold, Country General Manager at IBM Ireland, said today's agreement continues AIB's strategy of being at the forefront of digital transformation in the Irish banking industry.

"The IBM z15 is a key part of the bank's overall hybrid cloud strategy and will enable AIB to efficiently and securely manage traditional operations and provide AIB's highly experienced team the tools to deliver new digital services in a very agile manner," she added.