Commerzbank plans to move a large number of its banking applications to the cloud, with Google Cloud’s aid.
The bank said this is a continuation of its digital transformation strategy underway since 2017. Google Cloud will help Commerzbank on its journey to build a cloud transformation organisation and build new solutions for the bank’s customers.
"In our new ‘Strategy 2024’, a multicloud approach continues to play a major role,” said Jörg Hessenmüller, Chief Operating Officer (COO) and member of the Board of Managing Directors of Commerzbank.
“We will benefit from Google Cloud’s extensive capabilities in infrastructure modernisation, 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.”
Commerzbank is using cloud technology to bring new products that is intended to accelerate the bank's overall digital transformation, which includes a goal of running 85% of its decentralised applications in the cloud by 2024.
Google Cloud has been providing Commerzbank with cloud technologies since 2017. With this new, expanded agreement, Google will now offer the bank a deeper set of platform services to enable its digital transformation.
“We are excited to work with Commerzbank to help the bank digitally transform,” said Daniel Holz, vice president, EMEA North Region at Google Cloud.
“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.”
The Collaborative Cloud Audit Group (CCAG) is a group of financial services firms in Europe that performs pooled audits of cloud providers like Google Cloud to regulate the compliance of their material outsourcing operations.
