FRANKFURT, Germany and
SUNNYVALE, Calif., Dec. 4, 2020 /PRNewswire/ -- Deutsche Bank
(XETRA: DBKGn.DB / NYSE: DB) and Google Cloud have finalised a
strategic, multi-year partnership to accelerate the bank's
transition to the cloud and co-innovate new products and services.
It is the first partnership of this kind for the financial services
industry.
For Deutsche Bank's clients, the agreement will reshape how
products and services are designed and delivered. With faster
application development and the use of advanced artificial
intelligence and data analytics tools, the bank will be able to
respond more flexibly and more accurately to the most pressing
challenges, trends and client needs.
"Today marks a new chapter for Deutsche Bank," said Bernd Leukert, Deutsche Bank's Chief Technology,
Data and Innovation Officer and Member of the Management Board.
"With Google Cloud by our side, we have a strategic partner that
will accelerate our technology transformation, enable us to use
data more intelligently and provide a flexible and safe environment
for us to quickly deliver new products and services. This is the
blueprint for bringing together the relative strengths within
banking and technology for the benefit of our clients."
"Mobile self-service options, artificial intelligence-based
recommendations, and other innovations are transforming the banking
experience for businesses and consumers around the world," said
Rob Enslin, President, Google Cloud.
"Our partnership with Deutsche Bank will bring new innovations to
life and further establish the financial services industry as an
early technology adopter. Deutsche Bank is a trailblazer in the
industry, and we couldn't be more thrilled to partner with such an
important market leader."
A number of use cases for the partnership are already being
explored, including:
- New lending products to support "pay-per-use" models as an
alternative to purchasing assets outright
(asset-as-a-service);
- Establishing a unified, intuitive interface for retail
customers in Germany to more
easily view the range of Deutsche Bank and Postbank products;
and
- Enhancing the bank's Autobahn platform, the award-winning
electronic service offering for corporate and institutional
clients, to create more personalised recommendations and
experiences
As a further step, Deutsche Bank and Google Cloud intend to
selectively co-innovate with promising start-ups and fintechs that
can support the bank's client and transformation goals. In
addition, to expand customer reach, Deutsche Bank plans to list its
Google Cloud products on Google Cloud Marketplace, to drive broader
adoption of the bank's new cloud native services and solutions.
Moving to the cloud will enable Deutsche Bank to take advantage
of an up-to-date and fully managed environment for applications.
Flexibility and resilience will improve, with an uncompromising
focus on data privacy and security to safeguard customer data and
Deutsche Bank's information assets.
Deutsche Bank can choose in which data centre region in scope
applications are being deployed to cater for data location
preferences or rules. Deutsche Bank applications will encrypt data
at rest and in transit. Google Cloud will provide Deutsche Bank
with functionality to allow the bank to manage its encryption
keys.
About Deutsche Bank
Deutsche Bank provides commercial
and investment banking, retail banking, transaction banking and
asset and wealth management products and services to corporations,
governments, institutional investors, small and medium-sized
businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position
in Europe and a significant
presence in the Americas and Asia
Pacific.
About Google Cloud
Google Cloud provides organizations
with leading infrastructure, platform capabilities and industry
solutions. We deliver enterprise-grade cloud solutions that
leverage Google's cutting-edge technology to help companies operate
more efficiently and adapt to changing needs, giving customers a
foundation for the future. Customers in more than 150 countries
turn to Google Cloud as their trusted partner to solve their most
critical business problems.
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SOURCE Google Cloud