At least 30 new jobs are to be created in Dublin by US bank, BNY Mellon, which is investing €8m.
The lender is to open a new digital research and development hub to develop new products and services based on artificial intelligence, machine learning and data analytics for customers.
"Delivering innovative solutions for clients has been at the heart of BNY Mellon's long and proud history in Ireland for almost three decades," said Paul Kilcullen, BNY Mellon Chief Executive Officer of Funds Services Ireland and Ireland Country Manager.
"This investment reinforces BNY Mellon Ireland’s position at the leading-edge of financial services research and development and helps cement Ireland’s position at the forefront in driving innovation in the financial services sector globally."
The 239-year-old bank already has staff in Dublin, Cork and Wexford in operations that offer services to asset managers, banks, pension funds, insurance companies and other businesses.
"Today’s announcement of a new Digital R&D Hub in Dublin is a great sign of commitment by BNY Mellon to their Irish operation," said Michael Lohan, Chief Executive of IDA Ireland.
"The decision to create 30 specialist digital roles here is a vote of confidence in the talent and skillset that they have found in Ireland on their journey so far."
The new roles which BNY Mellon is recruiting for include AI and technology specialists, data scientists and product and design thinking specialists.
The investment has been supported by IDA Ireland and welcomed by the Minister for Enterprise, Trade and Employment, Simon Coveney.
"Having a leading-edge firm such as BNY Mellon choose Dublin for its Global Digital R&D Hub is a real vote of confidence in Ireland and our talented workforce," said Mr Coveney,
"The €8m investment will allow for exciting research in AI technologies and data analytics to support their clients’ needs."
Recently developers in BNY Mellon here helped develop the bank’s Predictive Analytics for Trade Settlement.
It uses AI and other new technologies to help the industry better predict settlement failures.
