January 25, 2021

Deutsche Bank expands Google cloud partnership

Deutsche Bank and Google have revealed further enhancements to a cloud partnership signed in July this year.

Deutsche and Google kicked off their partnership in July

The bank will utilise Google Cloud’s AI and data analytics to “deliver new capabilities quicker and cheaper”.

The lender also plans to “co-innovate” by making its products available on the Google Cloud for the first time.

Co-innovation use cases include new lending products, one retail bank interface and enhancements to the Autobahn platform

Deutsche Bank selected Google after inviting a number of cloud providers to propose partnerships. The deal is part of the German bank’s multi-vendor cloud strategy.

“Today marks a new chapter for Deutsche Bank,” said Bernd Leukert, Deutsche’s chief technology, data and innovation officer.

“With Google Cloud by our side, we have a strategic partner that will accelerate our technology transformation.”

He adds: “This is the blueprint for bringing together the relative strengths within banking and technology for the benefit of our clients.”

Google claims that the partnership is the “first of its kind” in the financial services sector.

The tech giant claims Deutsche Bank can now “reshape” how products and services are designed and delivered.

Google says its platform enables advanced artificial intelligence and data analytics tools which allow clients to respond “to the most pressing challenges, trends and client needs.”

Related: Deutsche and Innopay talk open banking beyond PSD2