In addition to secure, always-on service from their financial services providers, consumers increasingly expect personalized insights as well. As a result, financial services institutions are now leveraging cloud technology solutions to help them bridge from isolated data to rich customer recommendations. In this highly regulated industry, adopting cloud technology while complying with legal and regulatory requirements can be challenging. At Google Cloud, we understand that reducing costs while managing risks comes first, and we’ve been working hard to deliver secure and reliable platform modernization solutions that enable financial institutions to embrace cloud technology, create personalized customer experiences and transform their businesses.
One of my favorite examples of how we’re driving transformation for financial institutions is our work with Australia and New Zealand Banking Group (ANZ), a company that’s changing the way it draws insights from data to help its Institutional customers make better strategic business decisions. ANZ is Australia’s third largest bank by market capitalization, with its Institutional Banking division operating across 34 markets globally.
Looking for ways to add value to institutional customer relationships, ANZ wanted a tool to help deliver meaningful data insights quickly–insights which would ultimately help customers make informed business decisions on issues like liquidity, risk, and cash management, or strategic calls like store locations, inventory, and market positioning. It made sense for ANZ to leverage Google Cloud’s data analytics capabilities to help achieve this in an efficient, safe and secure way.
Following a successful proof-of-concept, ANZ used our best-in-class smart analytics and data science technology to analyze aggregated, de-identified data sets and deliver these powerful insights to customers.
ANZ is also driving productivity across its organization by leveraging our big data analytics capabilities for heavy computational queries. These capabilities to help bankers reimagine daily tasks and processes, automate and accelerate previously manual operations such as analyzing aggregated, de-identified credit card data–something that used to take days for ANZ Bank but now takes seconds, and give bankers meaningful business insights 250 times faster than before.
“Google Cloud improves how we process and use data internally, providing the technology and expertise to help us draw out data insights quickly so we can better serve the needs of our institutional customers,” said ANZ’s Chief Data Officer, Emma Gray. “There’s a genuine sense of collaboration with Google in solving our unique challenges and positioning ANZ and our customers for success today and in the future.”
I’d like to thank ANZ for partnering with us to make banking better for customers around the world.
To learn more about how Google Cloud is helping financial services institutions deepen customer relationships, lower costs and manage risk with secure and reliable data solutions, visit our website.