In February 2020, Deustche Bank called on several cloud service providers to submit proposals that fit in with the German group's new strategy. The result is a strategic alliance with Google Cloud, which will be involved in the bank's transformation for several years.
This agreement will enable Deutsche Bank to accelerate its transition to the cloud and transform its IT and technological architecture. "The partnership with Google Cloud will be a major boost to our strategic transformation," said Christian Sewing, CEO of Deutsche Bank. "It demonstrates our determination to invest in our technology, as our future is strongly linked to successful digitalization. This is as much a story of revenue as it is of costs," he added.
"The cooperation with Google Cloud is a significant advance in our technology strategy and will transform the way we produce and deliver our services to customers," said Bernd Leukert, Deutsche Bank's Director of Technology, Data and Innovation and a member of the Board of Directors.
Sundar Pichai, CEO of Google and Alphabet, said, "We are excited about our strategic partnership and the opportunity to make Google Cloud work for Deutsche Bank and its clients as they grow their business and shape the future of the financial services industry.