India-based technology and consulting giant Infosys (NYSE:INFY) plans to create 250 jobs in Ireland over the next three years to develop new technologies and support innovation in global financial institutions.
The company conducts business consulting, technology, engineering and outsourcing services. It is known for its widely used banking software, Finacle, which it is considering for a boost using blockchain technology according to an announcement earlier this year.
Infosys says 95 of the jobs will be at its existing research and development (R&D) center, and the additional 155 will be located at a new facility, where the hires will provide IT services to Infosys clients.
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The R&D facility is envisioned to bring together customers, technology partners, academic institutions and startups, and will explore blockchain technology and analytics.
Infosys was one of the first major players to disclose its consideration of blockchain technology when it did so in April this year. At the time, only a handful of financial institutions had done so. By now, dozens have either undertaken their own initiatives or joined consortiums to develop the technology collaboratively.
Rajashekara Maiya, Head of Product Strategy and Pre Sales, Infosys Finacle, told Finance Magnates that his division is “keenly watching” the developing space. Infosys Finacle says that it invests over 20% of its revenues in R&D that includes blockchain.