UniCredit will migrate large sections of its application landscape – including legacy systems – to Google Cloud Platform.
Pan-European bank UniCredit has signed a 10-year Memorandum of Understanding (MoU) with Google Cloud. The agreement will see UniCredit using Google’s infrastructure, AI, and data analytics solutions in its 13 core markets.
UniCredit will migrate large sections of its application landscape – including legacy systems – to Google Cloud Platform.
“This strategic partnership with Google Cloud is a pivotal step in our strategy to be the bank for Europe’s future,” said Andrea Orcel, CEO at UniCredit.
“In line with our single-partner approach for strategic collaborations, we have sought out the best, and now we are all in with them in the pursuit of excellence. Google Cloud’s cutting-edge cloud, AI, and data analytics capabilities, will empower our ongoing digital transformation – further enhancing our customer offerings, streamlining our operations, and fostering a new era of data-driven innovation.”
The company’s 13 regional banks will “progressively transition” to the cloud platform, enabling UniCredit to use Google’s AI offerings, including the Vertex AI platform and Gemini models.
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According to UniCredit, the company hopes that AI will help it to “refine” new service offerings and improve its internal efficiency, as well as being used in the prevention of financial crime.
“Partnership with Google Cloud represents a bold move for UniCredit – massively advancing our technology footprint in critical areas such as AI, data, and virtualized infrastructure across 13 core markets,” added Ali Khan, Group Digital & Information Officer, UniCredit.
“What’s more, it does so in a way that meets our cyber posture and resiliency needs. Google Cloud will further enhance the technological innovation we are bringing to core operations and last-mile customer solutions.”
“I am delighted to see this partnership, and all the opportunities it will bring to both UniCredit and Google,” said Tara Brady, President of EMEA at Google Cloud.
“Google Cloud is at the forefront of bringing powerful and the most secure AI technologies to financial institutions across Europe, and with these capabilities UniCredit can speed innovation, create efficiencies, and advance its digital transformation, enabling continued success within today’s dynamic market.”
UniCredit operates in Italy, Germany, Austria, and Central and Eastern Europe. The bank revealed it would be adopting a cloud-first approach to its application landscape in its 2024 Annual Report.
The report also noted that UniCredit has data centres operating in Verona, Italy, where it has signed a PPA with CVA to procure solar power to cover around 20 percent of its electricity consumption in the country.
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