Commerzbank Signs on Google Cloud for Its Cloud Transformation Plansby Fintechnews Switzerland April 6, 2021
Google Cloud and Commerzbank announced last week that they are expanding their collaboration by entering into a five-year, strategic partnership.
With the help of Google Cloud, Commerzbank will move a significant number of its banking applications to the cloud, a continuation of a comprehensive digital transformation strategy underway since 2017.
Google Cloud said that it will support Commerzbank on its shift to cloud and to innovate new solutions for the bank’s customers.
Commerzbank is increasingly using cloud technology to bring new products and customer experiences to market faster, improve the performance of its systems and reduce operating costs.
This is intended to accelerate the bank’s overall digital transformation, which includes a goal of running 85 percent of its decentralised applications in the cloud by 2024.
Google Cloud has been providing Commerzbank with cloud technologies and expertise since 2017. With this new, expanded agreement, Google will now offer the bank a deeper set of platform services to enable its digital transformation.
“In our new ‘Strategy 2024’, a multicloud approach continues to play a major role. We will benefit from Google Cloud’s extensive capabilities in infrastructure modernization, as well as from its know-how in data analytics and machine learning, as one of the pioneers of this technology.
As we move to the cloud, Google Cloud is an important strategic partner,”
said Jörg Hessenmüller, Chief Operating Officer and member of the Board of Managing Directors of Commerzbank.
“We are excited to work with Commerzbank to help the bank digitally transform.
This partnership means that Google Cloud not only satisfies the high regulatory requirements of the financial sector but we also cooperate on industry-wide initiatives such as the Collaborative Cloud Audit Group to provide verifiable transparency against important compliance standards in the financial services industry,”
said Daniel Holz, Vice President, EMEA North Region at Google Cloud.
Featured image credit: edited from Unsplash