3 weeks ago
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- Citi Group and Google Cloud have announced a multi-year partnership to accelerate the modernisation of the bank’s technology infrastructure by leveraging cloud computing technology and AI to support Citi’s digital strategy.
- The core objective of this collaboration is to enhance Citigroup’s technological infrastructure and optimise the cloud application experience for employees and customers.”
What happened
Citigroup announced a multi-year partnership with Google Cloud to support its digital strategy using cloud technology and artificial intelligence (AI). The focus is on modernising Citigroup’s technology infrastructure and improving the experience of employees and customers with cloud applications. Through this collaboration, Citigroup will migrate workloads and applications to Google Cloud. It will leverage high-performance computing (HPC) to execute millions of calculations in market operations.
Additionally, Citigroup will use Google’s Vertex AI platform for generative AI projects, enhancing its customer service team. Tim Ryan, Head of Technology and Business Empowerment at Citigroup, stated that this collaboration will help Citigroup run applications faster and provide better services to customers.
Thomas Kurian, CEO of Google Cloud, emphasised that the partnership shows Google Cloud’s commitment to transforming the financial services industry. It will bring significant benefits to Citigroup’s customers and employees. Google Cloud’s security infrastructure allows financial institutions to embrace digital transformation while protecting sensitive data and meeting strict regulatory requirements.
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Why it is important
Citigroup will migrate multiple workloads and applications to Google Cloud. This step will significantly advance the modernisation of Citigroup’s technology infrastructure, enhancing its competitiveness in global financial services. Through Google Cloud’s High-Performance Computing (HPC) and analytics platform, Citigroup will be able to offer more advanced digital products. This will also help streamline employee workflows and improve the customer service experience.
Additionally, Citigroup will utilise Google Cloud’s Vertex AI platform to support its generative AI initiatives. This will enhance the capabilities of its customer service team. Furthermore, Google Cloud’s security infrastructure enables financial institutions to confidently embrace digital transformation while protecting sensitive data and meeting stringent regulatory, policy, and business requirements.
Overall, this collaboration represents not only a technological upgrade but also a key part of Citigroup’s efforts to drive enterprise-wide innovation, helping banks maintain a leading position in the financial services sector.
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