UniCredit Partners with Google Cloud for Major Digital Transformation
UniCredit, one of Europe's leading commercial banks, has announced a major step in its digital transformation with a 10-year partnership with Google Cloud.
This collaboration aims to revolutionize UniCredit's operations by leveraging Google Cloud’s infrastructure, AI, and data analytics solutions to streamline its digital architecture across 13 core markets.
The Memorandum of Understanding (MoU) outlines plans for UniCredit to transition to Google Cloud’s secure, scalable platform, marking a significant investment in cloud infrastructure and enhancing the bank's products and services.
Cloud Migration and Scalability
As part of its digital strategy, UniCredit will migrate large sections of its application landscape, including legacy systems, to Google Cloud.
This transition will allow UniCredit’s 13 banks to benefit from a unified, agile foundation that will support its ambitious growth and innovation plans. Google Cloud’s flexibility ensures that UniCredit can easily adapt and scale to accommodate future market expansions or acquisitions.
AI-Powered Solutions for Innovation
In addition to cloud migration, UniCredit will adopt Google Cloud’s advanced AI capabilities, including the Vertex AI platform and Gemini models.
These technologies will be used to enhance internal efficiencies, develop new financial products, and improve customer experiences across several areas, including investment banking insights, financial crime prevention, and operational optimization. The partnership aims to foster a new era of AI-driven innovation in banking.
Andrea Orcel, CEO of UniCredit, said, “This strategic partnership with Google Cloud is a pivotal step in our strategy to be the bank for Europe's future.”
He added, "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."
Also read: Virtusa Partners with Google Cloud to Enhance Collaboration through AI Integration
The MoU also establishes a strategic business relationship, with UniCredit exploring additional Google Cloud services, including Google Maps Platform, to enhance customer interactions and optimize operational processes. This move signifies a milestone in UniCredit's digital transformation, bringing both AI and cloud innovations to the forefront of its operations.
