Citis Global Transaction Services business has opened its new global Research, Development, Innovation and Learning Centre at its offices located in Dublin. The Taoiseach, Brian Cowen, T.D., officially opened and toured the Centre.
Citi was the first financial services company to partner with the Irish Government to bring research and development projects to Ireland. Today, Citi announced the investment of a further USD 24 million for the development of a next generation intelligent payments solution. This brings Citis total investment in research and development in Ireland to date to USD 100 million. As a result of this investment, the number of employees involved in research and development will reach 100 by the end of 2010. These employees consist of research specialists, analysts and technologists.
The Research, Development, Innovation, and Learning Centre in Dublin will work closely with many leading technology companies, such as Microsoft and Cisco.
I am pleased to officially open Citis Research, Development, Innovation and Learning Centre today, says Taoiseach, Brian Cowen, T.D.. Citi was the first financial services company in Ireland to create a research and development facility. Innovation is what will make the difference in our economy. This investment and the high value jobs created here will contribute significantly to Irelands goal of becoming a knowledge driven and smart economy.
The Research, Development, Innovation and Learning Centre will enable us to create the next wave of financial platforms and solutions for the financial services industry, says VannidArchirafi, Chief Executive Officer of Global Transaction Services and Chairman of Citibank Europe plc. We will continue to collaborate with major technology companies, with academia and with government to build upon this success. I would like to take this opportunity to thank the Irish Government and the IDA.
Citi has operated in Ireland since 1965 and now employs 2,000 people predominately in its Global Transaction Services business.
The Research, Development, Innovation and Learning Centre in Dublin is Citis only dedicated research and development facility worldwide.
D.C.