HSBC announced a multi-year partnership with Google Cloud and said it expected the partnership to enable more than 200 new AI use cases over the next two years, prioritising projects expected to generate or save in excess of US$100 million each, with an initial focus on wealth management, financial crime risk management and frontline tools for relationship managers and employees across its global operations.
The agreement, announced at Google Cloud Summit London 2026 on 17 June, will see HSBC work with Google Cloud and Google DeepMind engineering teams on new AI-powered tools, with access to Google's agentic AI capabilities including Gemini models and the Gemini Enterprise Agent Platform. It adds to more than 600 HSBC applications already running on Google Cloud.
SCOPE AND INITIAL PRIORITIES
The initial phase of work targeted wealth management support, enhanced financial crime risk management and productivity tools for frontline staff and relationship managers. HSBC said it expects to be able to intervene twice as fast when financial crime risk is detected, including across the near one billion transactions it monitors each month, and that it will expand an AI-powered decision assistant for frontline staff and relationship managers.
WHAT THE EXECUTIVES SAID
Group CEO Georges Elhedery said: "AI is becoming one of the defining technologies of our time, allowing us to create a personalised experience for each customer, delivered in real time and at scale, while keeping human judgement, decision-making, and accountability at the core. A partnership like this one with Google Cloud helps us empower our colleagues with the tools they need to be future-ready, and supports our work in building a simple, agile, faster, and more personal HSBC."
Google Cloud chief executive Thomas Kurian said: "Our partnership with HSBC is a blueprint for the future of the financial services industry. By accelerating AI adoption built with Gemini, our Gemini Enterprise Agent Platform, forward-deployed engineers, and Google DeepMind’s research expertise, HSBC is building a more intelligent, resilient, and responsive bank that can create meaningful value for its customers."
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