Google Cloud and Deutsche Bank have announced the partnership for moving most of Deutsche Bank’s workloads and data over to the tech giant’s cloud platform. According to the announcement, the businesses have signed a letter of intent with the actual multi-year contract being signed within the next two months. With this partnership, Deutsche Bank will be modernized its infrastructure on the backend. In addition to this, Google Cloud also serves as a catalyst for new, customer-facing services.
Modernization of infrastructure
Google Cloud added that it will offer the bank direct access to its data science, AI, and machine learning tools and services. These services will help treasury clients with their everyday tasks such as cash flow forecasting, improved risk analytics, and advanced security solutions.
Bernd Leukert, Chief Technology, Data and Innovation Officer and Member of the Management Board, said,
“This cooperation with Google Cloud is a significant step forward for our technology strategy and will transform the way we produce and deliver our client services. By bringing together the best of both cultures, we look forward to creating new business models leveraging artificial intelligence, data analytics, and more, with an established technology and innovation leader.”