CaixaBank, the largest financial institution in Spain in terms of clients and branches, has announced a new long-term partnership with Google Cloud to expedite the bank’s shift to cloud-based systems and foster innovation through data analysis and advanced technology.

Under this collaboration, the bank will utilise Google Cloud’s cloud computing, data analytics, and artificial intelligence (AI) capabilities to create novel services for its customers and propel the organisation’s digital transformation.

CaixaBank chief operating officer Luis Javier Blas said: “We have added Google Cloud to our bank’s ecosystem of innovation partners, in order to work together to advance data analytics and support digital transformation across the organisation.

“Today, the complex analysis of information offers great potential in multiple areas of activity when combined with new technologies, such as artificial intelligence and cloud computing. CaixaBank has always been the sector’s benchmark in innovation. By partnering with Google Cloud, we will drive data-based innovation and enhance our capabilities.”

The alliance between CaixaBank and Google Cloud serves as a crucial component of the bank’s cloud-focused strategy, which aims to enhance data analysis and harness the potential of AI and machine learning (ML) technologies. These technologies are instrumental in tailoring commercial offerings to individual customers and enhancing customer relationships. Furthermore, data analytics holds immense promise in facilitating decision-making processes and the development of new products and services.

Moreover, as part of the agreement, CaixaBank will explore the utilisation of Google Cloud’s technology to support its sustainability objectives.

By leveraging Google Cloud’s sustainable infrastructure, which includes intelligent and energy-efficient data centers, as well as its robust security measures, the bank can leverage enhanced analytics capabilities while adhering to stringent data protection and privacy standards and ensuring compliance.

Google Cloud Iberia country manager Isaac Hernández said: “Google Cloud aims to help CaixaBank gain sustained differentiation in an increasingly competitive market. Our data analytics, artificial intelligence, and machine learning tools will help enable CaixaBank to meet dynamic market needs and expectations by unlocking strategic insights to create real value for its customers.”