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Commerzbank enters five-year relationship with Google Cloud

Commerzbank enters five-year relationship with Google Cloud

Commerzbank has entered a five-year partnership with Google, that will see more applicatons moved to the cloud and delivery of on-the-fly updates to software code.

The extended relationship with Google Cloud is intended to help the bank achieve a set goal of running 85% of its decentralised applications on the cloud by 2024.

It also presages a major shift in the bank's approach to coding its applications by following a continuous integration and continuous delivery (CI/CD) approach, enabling developers to make updates to code faster and easier.

Commerzbank customers are already using the first application developed on Google Cloud platform, a 'digital account analysis' tool, which provides better tracking of historical financial data and the creation of accurate balance sheets of income and expenses for each customer account.

The shift to the cloud is part of a three-year strategic plan by the German bank that will see €1.7 billion pumped into IT in an effort to digitise and automate business processes.

“In our new ‘Strategy 2024’, a multicloud approach continues to play a major role," says COO Jörg Hessenmüller. "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."

Comments: (1)

A Finextra member
A Finextra member 29 March, 2021, 15:34Be the first to give this comment the thumbs up 0 likes

What is in the fly updates of software cloud? I assume it is only possible for transactions where connectivity is available?