Allied Irish Bank Righting Wrongs via IT
INFRASTRUCTURE
LONDON—Allied Irish Bank (AIB) is upgrading its technology infrastructure to help avoid a recurrence of its recent foreign exchange (FX) mis-pricing scandal.
A recent report into the scandal judged that mistakes were caused by an "over-reliance" on manual processes. The bank is also set to install a new system to manage the identification and refunding of client commissions.
AIB board members met Thursday, July 22, to discuss a progress report from regulators into its recent FX transactions. The
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