Deutsche Bank has successfully migrated over 260 applications to Google Cloud, marking a significant transformation in its technological infrastructure and setting the stage for advanced generative AI implementation across its operations.

The strategic partnership, initiated in 2019 under the leadership of Chief Technology, Data and Innovation Officer Bernd Leukert, has enabled Deutsche Bank to modernize its core banking systems while establishing a foundation for AI-driven innovation in financial services.

The migration process began with non-critical applications to minimize risk and build confidence in cloud technology. The bank then progressed to developing cloud-native applications, including the innovative Frontier Finance platform, which streamlines invoice processing and payments for corporate customers.

One of the most notable achievements was the migration of the bank’s SAP S4/HANA system, representing one of the largest financial platform transitions in banking history.

This complex operation involved moving 17 financial reporting systems, including the bank’s strategic general ledger and forecasting systems, to Google Cloud. The migration has yielded impressive results, with data processing improvements of up to 50% and a 16-20 times reduction in recovery time.

The partnership has also significantly advanced Deutsche Bank’s AI capabilities. Through access to Google Cloud’s Vertex AI platform and Gemini large language models, the bank has implemented several groundbreaking AI solutions.

These include an automated document processing system that achieves 97% accuracy and reduces handling time by 40%, and a Digital Assistant that helps employees in research and advisory roles create more consistent and accurate content.

“Google Cloud’s leadership in data and AI made them the right choice for us,” stated Leukert. “This leap paid off. We have moved around 260 applications to Google Cloud, including business-critical ones, which allowed us to quickly deploy generative AI technologies.”

The bank has made substantial investments in employee development, training over 6,000 staff members in cloud and AI skills through its Cloud Engineer Program. Regular hackathons and application migration sprints, conducted in collaboration with Google Cloud, ensure continuous innovation and skill development.

Looking ahead, Deutsche Bank plans to expand its AI initiatives across various banking operations. The successful implementation of these technologies is expected to set new standards for the financial industry, demonstrating how traditional banking institutions can effectively leverage cloud computing and AI to enhance their services and operational efficiency.

For software development, the bank is utilizing generative AI to accelerate code writing, improve bug detection, and enhance documentation processes. This technological advancement represents a significant step forward in modernizing the bank’s development practices and maintaining its competitive edge in the digital banking landscape.

The partnership between Deutsche Bank and Google Cloud exemplifies how traditional financial institutions can successfully navigate digital transformation while maintaining security and regulatory compliance in a highly regulated industry.

News Source: https://blog.google/products/google-cloud/deutsche-bank-google-cloud-partner/