SEB and Google Cloud team up to accelerate digitisation journey

By Megha Bhattacharya

SEB and Google Cloud today announced a partnership with an aim to boost the bank’s digitisation journey as well as to create new banking services for its customers. SEB’s studio and next-generation banking platform, SEBx, is already benefiting from Google’s Infrastructure and Data Cloud technologies, such as Kubernetes Engine and Cloud SQL, helping the bank achieve greater cost efficiency, flexibility, and network scalability. SEB will be using Google Cloud throughout the banking group to speed up its digitisation efforts and provide new solutions to its customers.

Skandinaviska Enskilda Banken AB, abbreviated SEB, is a Swedish financial group for corporate customers, institutions and private individuals with headquarters in Stockholm.

“This is an important step in SEB’s technological transformation,” said Johan Torgeby, President and CEO of SEB. “Together with Google Cloud, we will start the journey to the cloud and accelerate our digitisation plan. The partnership will enable us to use data in a more intelligent way and speed up the creation of new innovative solutions for our customers. Google Cloud will be a key partner in our data journey, both on the infrastructure side and also as world-leading artificial intelligence experts.”

According to SEB, it will use Google Cloud across the company to develop services in retail and corporate banking for customers based on data, analytics, and processing technologies and refine risk analysis through Google Cloud’s computational scalability. It will also help the company to augment financial reporting capabilities by using Google Cloud’s data management tools, help it to explore digital assistants to increase customer service levels and allow SEB employees to provide more qualified personal service to customers, etc. SEB and Google Cloud will be able to collaborate on new innovative products and services to provide a better user experience for customers, like providing customers with improved sustainability transparency and savings offerings based on new data sets.

“The financial services industry is rapidly changing to meet rising customer expectations,” said Thomas Kurian, CEO at Google Cloud. “Together with SEB, we’ll collaborate on new products based on data, analytics, and AI that will create even better user experiences and will transform the industry as a whole. We are pleased to work with a market leader like SEB.”