UniCredit has entered into a strategic partnership with Google Cloud aimed at advancing its digital transformation efforts across 13 core markets.
The collaboration, formalised through a memorandum of understanding (MoU), outlines a decade-long agreement intended to leverage Google Cloud’s infrastructure, artificial intelligence (AI), and data analytics solutions to optimise UniCredit’s digital framework.
This move is said to mark a significant investment in UniCredit’s cloud infrastructure. It also aligns with the pan-European commercial bank’s digital strategy of migrating key applications, including legacy systems, to Google Cloud’s scalable and secure platform.
This initiative will enable UniCredit’s network of 13 banks to progressively transition their operations to Google Cloud, providing a consistent foundation that enhances scalability and agility.
The collaboration is designed to support UniCredit’s growth and innovation strategies, facilitated by the technological adaptability inherent in Google Cloud’s offerings. This adaptability is expected to allow UniCredit to promptly scale operations in response to market expansions or potential acquisitions.
UniCredit plans to deploy Google Cloud as its primary platform for AI workloads, integrating advanced capabilities such as the Vertex AI platform and Gemini models.
These technologies will be instrumental in developing new service offerings, enhancing internal efficiencies, and delivering superior customer experiences.
Potential applications are expected in areas including investment banking insights, improved customer interactions, operational process refinement, financial crime prevention, and the creation of novel AI-driven financial products.
The MoU also establishes a broader strategic partnership with Google Cloud, facilitating exploration of additional services from Google’s suite of offerings. This move could see UniCredit utilising platforms like Google Maps for enriched customer engagement and optimised operations, representing a pivotal development in the bank’s digital evolution.
Central to UniCredit’s growth strategy is investing in its workforce to shape future prospects. In line with this agreement, Google Cloud commits to providing comprehensive digital skills training for UniCredit employees across its European markets.
This initiative aims to foster the necessary digital acumen and mindset to fully embrace cloud-based solutions and AI-driven banking innovations.
UniCredit’s service proposition spans across Italy, Germany, and Central and Eastern Europe, serving over 15 million customers globally.
