Deutsche Bank and Google Cloud Sign Pioneering Cloud and Innovation Partnership

FRANKFURT, Germany and SUNNYVALE, Calif., Dec. 4, 2020

For Deutsche Bank's clients, the agreement will reshape how products and services are designed and delivered. With faster application development and the use of advanced artificial intelligence and data analytics tools, the bank will be able to respond more flexibly and more accurately to the most pressing challenges, trends and client needs.

"Today marks a new chapter for Deutsche Bank," said Bernd Leukert, Deutsche Bank's Chief Technology, Data and Innovation Officer and Member of the Management Board. "With Google Cloud by our side, we have a strategic partner that will accelerate our technology transformation, enable us to use data more intelligently and provide a flexible and safe environment for us to quickly deliver new products and services. This is the blueprint for bringing together the relative strengths within banking and technology for the benefit of our clients."

"Mobile self-service options, artificial intelligence-based recommendations, and other innovations are transforming the banking experience for businesses and consumers around the world," said Rob Enslin, President, Google Cloud. "Our partnership with Deutsche Bank will bring new innovations to life and further establish the financial services industry as an early technology adopter. Deutsche Bank is a trailblazer in the industry, and we couldn't be more thrilled to partner with such an important market leader."

A number of use cases for the partnership are already being explored, including:

• New lending products to support "pay-per-use" models as an alternative to purchasing assets outright (asset-as-a-service);
• Establishing a unified, intuitive interface for retail customers in Germany to more easily view the range of Deutsche Bank and Postbank products; and
• Enhancing the bank's Autobahn platform, the award-winning electronic service offering for corporate and institutional clients, to create more personalised recommendations and experiences

As a further step, Deutsche Bank and Google Cloud intend to selectively co-innovate with promising start-ups and fintechs that can support the bank's client and transformation goals. In addition, to expand customer reach, Deutsche Bank plans to list its Google Cloud products on Google Cloud Marketplace, to drive broader adoption of the bank's new cloud native services and solutions.