Citi and Google Cloud announced a strategic, multi-year agreement to support the bank’s digital strategy through cloud technology and artificial intelligence (AI). This collaboration focuses on modernizing Citi’s technology infrastructure and enhancing employee and client experiences on cloud-based applications.
Citi will migrate multiple workloads and applications to Google Cloud’s secure and scalable infrastructure. By modernizing its technology infrastructure on Google Cloud, Citi expects to offer improved digital products, streamline employee workflows, and run high-performance computing (HPC) and analytics platforms. This includes using advanced HPC capabilities to facilitate the execution of millions of computations daily in Citi’s Markets business.
As part of the agreement, Citi will also use Google Cloud’s Vertex AI platform to deliver generative AI capabilities across the company, also fueling initiatives related to developer toolkits, document processing, and digitization capabilities to empower customer servicing teams.
Tim Ryan, head of Technology and Business Enablement for Citi, said in a statement: “Leveraging Google Cloud opens up a whole new frontier for us in how we can run applications with faster and more comprehensive outputs, and provide our colleagues with the tools they need to deliver for our clients.”
Thomas Kurian, Google Cloud CEO, said in a statement: “By combining Citi’s deep banking and customer experience expertise with Google Cloud’s leading cloud and AI capabilities, we can deliver significant benefits to Citi’s clients and employees.”
Google Cloud’s infrastructure’s foundation is built with a defense-in-depth approach, incorporating multiple layers of security such as data encryption at rest, in transit, and in use with confidential computing.