Commerzbank strengthens partnership with Google Cloud

Commerzbank has strengthened its strategic partnership with Google Cloud as part of a five-year cloud transformation agreement.

The German commercial bank said the expanded collaboration would see a “significant number” of applications moved to the cloud in the next five years.

Commerzbank said the partnership represented a continuation of a comprehensive digital transformation strategy underway since 2017 and would be focussed on cloud transformation and innovating new solutions for the bank’s customers as well as reducing operating costs.

The deal will also support Commerzbank’s target of running 85 percent of its decentralized applications in the cloud by 2024.

Jörg Hessenmüller, chief operating officer (COO) and member of the board of managing directors of Commerzbank said: “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.”

Using Google Cloud will allow Commerzbank developers to follow a continuous integration and continuous delivery (CI/CD) approach, enabling them to make updates to code and reducing time to market for the bank’s financial apps.

Daniel Holz, vice president, EMEA North Region at Google Cloud, said: “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.”

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 ensure regulatory compliance of their material outsourcing operations.

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