Commerzbank has no plan B for Google Cloud and Microsoft | EUROtoday

Commerzbank deepens its collaborations began in 2018 with the US expertise suppliers Google Cloud and Microsoft. As introduced by the strategic partnerships with Google Cloud and Microsoft, the digital transformation is to be accelerated on Thursday, as introduced on Thursday. The intention is to advance the digitization of Commerzbank quicker and extra comprehensively via the usage of cloud computing, synthetic intelligence and improved knowledge evaluation.

“Our partners provide their technological know-how. Goals of the collaboration are also the technological transfer of knowledge into the bank,” says Christiane Verspel, which was on the Commerzbank board in autumn 2024.

That is why the FAZ requested Commerzbank on Thursday whether or not it had a “plan B” if its US companions must be Google Cloud and Microsoft-be it as a result of the EU may turn out to be extra unbiased or the United States may not function European clients. Commerzbank replied: “All leading providers are currently coming mainly from the USA. There are currently no alternatives to the topic of AI.”

Commerzbank is necessary with regard to the entrance: “Europe should strengthen its role in the topic of AI, but also in general when it comes to IT infrastructure. We therefore welcome the EU AI Champions Initiative.” As early as March, the German Sparkassen and Girover Association (GDP) had warned that Europe needed to spend money on “digital independence” and “become independent of external power centers”. From the viewpoint of the financial savings banks, this consists of the European quantity resolution Wero and the legally safe establish with the digital ID card. Commerzbanks IT-Commerzbank member of the board, however, gave these examples of the usage of synthetic intelligence: software program improvement and doc administration on the event of the in-depth cooperation with Google Cloud and Microsoft. She guarantees financial institution clients an improved “digital experience”, the shareholders extra effectivity. Commerzbank plans to extend its return on fairness to fifteen % by 2028. With this formidable aim, Commerzbank tries to maintain its shareholders on the shelf and to beat back an tried takeover of the Italian financial institution UniCredit.