UniCredit has entered into a 10-year partnership with Google Cloud to accelerate its digital transformation journey by leveraging Google’s cloud, AI, and data analytics capabilities.
This collaboration will involve migrating a significant portion of UniCredit’s application landscape, including legacy systems, to Google Cloud across its banking operations in 13 countries. The bank will also utilize Google Cloud as its primary platform for AI workloads, utilizing tools such as Vertex AI and Gemini models.
Through the power of AI, UniCredit aims to enhance its service offerings, improve operational efficiency, and elevate customer experiences. AI will be applied to areas such as investment banking insights, customer interactions, process optimization, and financial crime prevention.
Ali Khan, UniCredit’s Group Digital and Information Officer, expressed excitement about the partnership, highlighting the advancement in technology across core markets. The bank’s involvement in the European Cloud User Coalition further emphasizes its commitment to driving innovation in the financial services sector.
Google Cloud’s growing presence in the banking industry is evident, with recent partnerships including Lloyds Banking Group and Commerzbank. These collaborations focus on leveraging AI and ML technologies to drive operational excellence and enhance security measures.
UniCredit’s CEO, Andrea Orcel, views the partnership with Google Cloud as a significant step towards establishing the bank as a leader in Europe’s financial landscape. Ruth Porat, President and Chief Investment Officer at Alphabet and Google, emphasized the transformative power of AI in driving business growth and economic prosperity.
Overall, UniCredit’s collaboration with Google Cloud underscores its commitment to embracing cutting-edge technologies to deliver innovative solutions and enhance customer-centric services.
