BBVA & Google Cloud to launch new AI platform for preventing cyberattacks
By Megha Bhattacharya
BBVA has entered into a collaboration with Google Cloud for transforming its security strategy with the optimisation of its security infrastructure. BBVA stated that it will utilise the partnership for developing new AI and ML models for predicting and preventing cyberattacks against its banking infrastructure. The Bank is expected to implement Google Cloud’s AI capabilities into its security strategy.
“This partnership represents a leap forward for the bank, and allows us to be at the forefront in preventing threats to the security of our financial infrastructure and our clients,” said Álvaro Garrido, Chief Security Officer, BBVA. “The platform surprised us in its ability to quickly and accurately mitigate possible threats. Google Cloud’s Chronicle meets our expectations and will be a magnificent partner in the transformation of our security posture, just as Google Cloud has been in other areas of the bank.”
According to Google Cloud, the collaboration will see the combination of its Chronicle with BBVA’s security operations departments for preventing cyberattacks.
“The Chronicle platform was built to help companies like BBVA improve its security infrastructure, leveraging the speed and scalability of Google Cloud’s technology,” said Derek White, VP Global Financial Services Industry, Google Cloud. “This collaboration will solidify Chronicle as one of the key pillars of BBVA’s security infrastructure and will support its strategy in offering its customers a trusted approach to products and services.”
Recently, Deutsche Bank and Google Cloud signed a multi-year partnership for accelerating the bank’s transition to the cloud and the ability to co-innovate new products and services. The agreement will enable the Bank to enhance the way products and services are designed and delivered. Deutsche Bank will also be able to accurately respond to client needs with the help of faster application development along with the use of advanced artificial intelligence and data analytics tools.
IBSi Daily News Analysis
May 31, 2023
UPI transactions will dominate retail digital payments in India by 2027, PWC study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage