Lloyds Banking Group has announced a strategic collaboration with Google Cloud, as part of its commitment to invest £3bn in digital transformation.
The collaboration is part of the bank’s technology strategy that will build on its multi-cloud approach. The collaboration will add Google Cloud to the bank’s portfolio of technologies, as it aims to deploy smarter technology and better experiences to its customers across the UK.
Lloyds says that, benefiting from Google Cloud’s engineering capability, the collaboration will use advances in artificial intelligence and machine learning to create more personalised customer experiences, delivered faster to market.
“As the UK’s largest digital bank we have made strong progress in transforming not only our systems, but also how we work,” said Zaka Mian, group transformation director at Lloyds Banking Group. “The size of our digital transformation is huge and Google Cloud’s capabilities will help drive this forward, increasing the pace of innovation, as well as bringing new services to our customers quickly and at scale.”
Over the course of the five-year agreement, Lloyds will deploy a number of Google Cloud services which will support its ambition to streamline, modernise and improve the customer experience. The collaboration will combine expertise, explore the new technologies that are reshaping the industry and offer the potential for quicker and easier customer transactions.
“Banking customers today expect secure access to their funds, without downtime, and delivered through the modern experiences they receive in other aspects of their lives,” said Thomas Kurian, Google Cloud CEO. “We are proud to work with such an established institution as Lloyds, working with them on one of the biggest digital transformation journeys to redefine the next generation of financial services.”
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