January 16, 2008 08:15 ET

Allied Irish Bank Chooses IBM in 45 Million Euro Core System Transformation Agreement

DUBLIN, IRELAND--(Marketwire - January 16, 2008) - IBM (NYSE: IBM) today announced that it has signed a three-year, 45 million euro agreement with Allied Irish Bank (NYSE: AIB) to transform its core banking systems. The aim of the agreement is to provide the bank with an open and flexible platform to support future business growth.

The agreement provides the environment and services to support the i-flex FLEXCUBE for CoreBank/DB2 application software running on an IBM System z platform powered by DB2 and WebSphere software. As part of the agreement IBM Global Services will implement the new environment at the bank.

"To support our growth plans to 2010, improve our speed to market for new product introduction and provide greater back-office integration, we are making this move to transform our core banking system using packaged core banking applications. It is also obvious that this needs to be based on IBM's System z platform and z/OS in order to ensure the necessary scalability, performance and reliability," said Eddie Sweeney, of AIB.

"Banks like AIB are looking for new ways to modernize their core systems and reduce operational costs by rationalizing massive server farms to more flexible and efficient systems," said Michael Daly, IBM Ireland.

IBM recently helped AIB consolidate its data centres into two new sites which will enable the bank to minimise its data center carbon footprint and improve resilience.

The agreement was signed in December 2007.

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