(13 July 2020 – Europe) Deutsche Bank have announced a new partnership with Google Cloud to enhance its cloud-based product offerings to corporate clients. Both parties have signed a letter of intent and plan to close off a ten year deal in the coming months.
Google Cloud will enable the bank to accelerate its migration to cloud computing and improve its overall IT infrastructure. In addition, the pair will intricately work together to develop financial products driven by technology and innovation. Artificial Intelligence(AI) and Machine Learning(ML) are key developments that will be used to improve customer experience, mitigate risks and develop new cutting-edge products and services.
“We now have a real opportunity to provide the best of Google Cloud technology and Deutsche Bank’s domain expertise to transform not only the bank, but the financial services industry overall. This strategic partnership includes providing know-how and resources from across Google to make it successful” commented Google Cloud President, Robert Enslin.
“The partnership with Google Cloud will be an important driver of our strategic transformation. It demonstrates our determination to invest in our technology as our future is strongly linked to successful digitization” commented Deutsche Bank CEO, Christian Sewing.