AIB and BoI withdraw from IT joint venture
TECHNOLOGY NEWS
DUBLIN – Allied Irish Banks (AIB) and the Bank of Ireland have withdrawn their technology joint venture proposals, the banks announced last week.
The decision followed an indication from the European Commission that there would be a further investigation before competition clearance was given for the project. Both banks concluded that the wait would entail unnecessary costs and uncertainty among staff and customers.
“A second-stage investigation would take a minimum of four months from
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