After winning a contract to provide application development and maintenance services for Allied Irish Bank (AIB), Infosys has announced that it will be setting aside $10 million of its $500 million innovation fund to invest in Irish startups.

AIB will also be outsourcing to Infosys’ fellow Indian service provider Wipro. AIB will be transferring an unspecified number of IT staff to Infosys’ new 200-seat centre in Dublin.

Mohit Joshi, EVP and global head of financial services at Infosys, commented: “Our investment in the Irish start-up community reflects our belief that Ireland is a strong and vibrant nation, home to entrepreneurs who share our vision of technology as a way to drive growth.

“We will leverage our broad experience in financial services and other industries to support the digital transformation journey and strategic growth plans of AIB.”

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Related: Allied Irish Banks plans to outsource services to Wipro and Infosys