Indeed, this project aims to enhance analytical capabilities to help power new customer experiences as well as improve scalable, governed, and secure management across its data lake.

By using this cloud platform, the bank will be able to derive critical and real-time business decisions and unlock new transformative customer insights. With this, TD will get fast and secure access to its data, which will lead to faster decision-making based on the insights.

TD then hopes to further enhance its customer experience and support new product development, through developing this longstanding strategic relationship between the two companies.

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Indeed, this deal will then allow Google to provide to the bank various services so as to enable digital transformation. Besides, developers of the bank will be able to follow a continuous integration and delivery (CI/CD) approach, which then will enable faster and easier building and maintaining of applications.

Commerzbank declared that it will benefit greatly from Google Cloud’s capabilities in infrastructure modernization, data analytics, and machine learning.

Moreover, Commerzbank also announced a ‘Strategy 2024’ approach, which will represent customer-centricity, digitalization, sustainability, and profitability, with a goal to run 85% of its decentralized applications in the cloud by that date.

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This move to the cloud will enhance the bank’s resilience as well as allow it to deliver new capabilities to market faster and reduce the cost through time. Deutsche Bank and Google Cloud aim to co-innovate with some promising start-ups and fintech and plan to make Deutsche Bank products available on Google Cloud Marketplace for the first time ever.

After a few months, both have finally reached a strategic, multi-year partnership to speed up the bank’s transition to the cloud and co-innovate new products and services. This is the first time that there is a partnership of this kind in the financial services industry.

This new partnership means that the way products and services are designed and delivered will be reshaped and the bank will be able to answer more quickly and accurately to new challenges and customers’ needs. With Google Cloud, Deutsche Bank will get to use its data more intelligently and provide a safer and more flexible environment to deliver their products and services.

This partnership will bring new innovations to life and help establish the financial services industry as an early technology adopter.

Some of the use cases that are being explored for the partnership are as follow:

• New lending products to support “pay-per-use” models as an alternative to purchasing assets outright (asset-as-a-service)
• Establishing a unified, intuitive interface for retail customers in Germany to more easily view the range of Deutsche Bank and Postbank products
• Improving the bank’s Autobahn platform to create more personalized recommendations and experiences

Moving to the cloud will allow Deutsche Bank to fully explore the advantages of an up-to-date and managed environment for applications. This will bring more flexibility and resilience to their services as well as more security with a focus on data privacy to protect customer data and the Bank’s information assets.

This is the beginning of a new era for banking and technology.

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Nationwide has teamed up with OutSystems with the aim of delivering new fintech solutions which will digitally transform both the market and the company itself.

With over 15 million members and 19,000 employees, the bank is one of the largest in the world. One of its main focuses is on savings and Nationwide currently provides business saving products for the SME (small-to-medium enterprise) market. This includes offering instant access, notice and fixed-term savings accounts to companies, charities, and the public sector.

Presenting a service

“Our focus over the past 130 years has always been about delivering legendary services to our members,” said Darren Bailey, Head of Product Management at Nationwide. “As such, we were keen to continue to deliver innovative digital services that enable our business customers to quickly access the information they need at their fingertips. The OutSystems low-code application development platform will enable us to do this.”

“OutSystems is fantastic for the speed with which an application can be released, which gives us the flexibility to react to changing customer requirements, remaining agile as a business,” said Bailey.

The availability of the product

The teams expect the product will be launched early next year with the digital business savings banking service currently being worked on by the IT specialists.

“We are delighted to help Nationwide Building Society on its digital transformation journey, enabling the delivery of web and mobile digital banking capabilities at unprecedented speed,” added Garry Larner, Regional Director Financial Services & Insurance, OutSystems. “This is a major step forward for Nationwide Business Savings in empowering its customers.”

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