Deutsche Bank AG has signed a strategic, multi-year partnership with Google Cloud that aims to redefine how the bank develops and offers its financial services. Google will be providing access to its cloud computing services and the two companies will drive innovation in technology-based financial products for clients.
Both Google and Deutsche Bank are committed to compliance with privacy and data protection regulation to maintain the confidentiality, integrity and availability of customer data and Deutsche Bank’s information assets
With this partnership, Deutsche Bank will gain direct access to world-class data science, leveraging artificial intelligence, machine learning, data analytics, and more, to better serve customers.
The companies did not comment on how much Deutsche Bank will pay for Google’s services, or the cost savings it expects to generate from this partnership.
It’s a big win for Google as it tries to gain foothold in the financial sector. HSBC, to date, is the only major bank that uses Google Cloud. In addition to Google, the other big U.S. cloud companies that had bid for this business included Microsoft Corp. and Amazon.com Inc.
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