Google And Deutsche Bank Have Agreed To Cooperate In The Field Of Cloud Technologies
The Bank will be able to use artificial intelligence and machine learning, which will improve the accuracy of risk forecasting and the security of client accounts.
Google and Deutsche Bank, the largest financial institution in Germany, have agreed to a long-term strategic partnership in the field of cloud technologies, according to a joint statement published on the Bank's website on Tuesday.
"For more than 150 years, Deutsche Bank has been an industry pioneer with extensive experience in innovation in the financial services sector," said Google CEO Sundar Pichai. "We are very excited about our strategic partnership and the ability of Google Cloud to be useful to Deutsche Bank and its customers as they grow their businesses and shape the future of the financial services industry," he added.
This partnership, as indicated in the statement, will not only provide Deutsche Bank with advanced cloud services but also allow it to work with Google to implement modern technologies to create new-generation financial products. The Bank will also be able to use artificial intelligence and machine learning, which will improve the accuracy of risk forecasting and the security of client accounts. Both parties agree to comply with privacy and data protection rules.
"The partnership with Google Cloud will be an important trigger of our strategic transformation," said General Director of Deutsche Bank's Christian Sewing. "It demonstrates our determination to invest in technology, as our future is closely linked to successful digitalization," he said.
Deutsche Bank has representative offices in more than 70 countries.
Google is a public Corporation that develops online services, part of the Alphabet holding company with headquarters in mountain view (USA, California).