FRANKFURT, July 7 — Deutsche Bank said today it is planning a partnership with Google where the US technology giant will provide cloud computing capabilities to Germany’s largest lender, a market in which Europe is struggling to establish a foothold. The companies have signed a letter of intent...
The Frankfurt-based lender said it hopes to use Google’s technology to improve cash flow forecasting, risk analytics and account security, and other tasks. — Reuters pic
The companies have signed a letter of intent and plan to sign “a multi-year contract within the next few months”, Deutsche Bank said in a statement. The tie-up came just days after German Chancellor Angela Merkel said that building up digital sovereignty would be one of three key goals for Europe’s biggest economy while it holds the EU’s rotating presidency.
The 27-member bloc has been watching in dismay at the growing digital dominance by US giants including Amazon, Google and Microsoft.
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