Citi pens multi-year cloud and AI tech modernisation deal with Google Cloud
Citi has signed a multi-year partnership agreement with Google Cloud to modernise its technology infrastructure with new cloud and AI technologies.
Citi enters multi-year partnership with Google Cloud
As part of the collaboration, Citi says it is migrating multiple workloads and applications, including digital products and internal workflows, to Google Cloud, with a focus on “enhancing employee and client experiences on cloud-based applications”.
This migration is expected to bolster Citi’s current provision of digital products while also streamlining internal functions with the assistance of 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,” the bank says.
The bank will also make use of its partner’s machine learning (ML) solution Vertex AI, which will enable Citi to “deliver generative AI capabilities across the company”.
Launched in 2021, Vertex AI is designed to help developers and data scientists build, develop and scale ML models more effectively, and is fitted with model frameworks including TensorFlow and PyTorch.
Citi’s deployment of the ML platform is expected to power its initiatives in generative AI with regard to developer toolkits, document processing and digitisation capabilities to boost its customer servicing teams.
Tim Ryan, head of technology and business enablement at Citi, says the collaboration is part of an effort to “modernise our infrastructure and increase our safety and soundness”.
Google Cloud has signed a number of partnerships with large-scale banks in recent times. These include agreements with Bendigo and Adelaide Bank in Australia, Banco Santander CIB in Spain, Bank Muamalat in Malaysia and TD Bank in the US.
