Australia and New Zealand Banking Group (ANZ) has partnered with Google to provide business analytics to its institutional customers through the Google Cloud platform. ANZ intends for the alliance to accelerate the way it provides data to clients.
ANZ's Head of Data and Digital for Institutional Customers, Joss Raines, said:
"Increasingly, our Institutional customers are looking to us for strategic partnership in addition to the financial products and services we offer. The cloud-based platform can give our bankers meaningful data insights instantly -- as it allows us to process data 250 times faster.”
He added that the bank aims to help customers make decisions on various issues including "liquidity, risk, and cash management, or strategic calls like store locations, inventory, and market positioning" over time using data.
The bank selected Google Cloud following a proof-of-concept that worked to examine an aggregate of anonymous data sets for customer insights in a secure way using the search giant's cloud computing system. Earlier last year, Google introduced a slew of improvements to its Cloud Platform infrastructure in an effort to boost its security and help protect the customers' assets.
With the new partnership, ANZ aims to bolster its data and business intelligence capability using the cloud technology from Google.