When Deutsche Bank announced its development partnership with Google Cloud in December 2020, chief technology, data and innovation officer Bernd Leukert described it as “a new chapter” for the bank. The US tech giant was a “strategic partner” that would accelerate the Deutsche’s technology transformation, enable it to use data more intelligently and provide a flexible and safe environment to quickly deliver new products and services.
Gil Perez, chief innovation officer at Deutsche Bank, explains that in a heavily regulated industry such as banking, it was important to go with a single provider rather than adopt a multi-provider, or hybrid, approach to cloud computing. “There were many times people asked why we didn’t split up the work to minimise risk,” he says. “But the complexity of the controls and security layers that have to be put in place in order to certify just one cloud is huge.”
