Citi has entered a multi-year agreement with Google Cloud to expand its cloud and AI capabilities. Through this partnership, Citi aims to shift to a more agile, modern infrastructure.
As part of this transformation, Citi plans to migrate various workloads and applications to Google’s cloud platform, while also leveraging Vertex AI for machine learning across key operations.
This collaboration clearly reflects Citi’s commitment to embedding AI across critical areas. Specifically, Citi will use Vertex AI for document processing, developer tools, and enhanced customer service.
Furthermore, Citi’s Markets business, which performs millions of daily computations, will greatly benefit from Google Cloud’s high-performance computing (HPC). By adopting Google’s technology, Citi expects faster application performance and more efficient data handling.
In addition, Tim Ryan, Citi’s head of technology, emphasized the partnership’s transformative potential. “Citi is on a mission to modernize our infrastructure and increase safety,” he stated. According to Ryan, Google Cloud “opens a new frontier” for Citi, enhancing output and providing employees with advanced tools to better serve clients.
Moreover, this contract aligns with Citi’s ongoing IT consolidation efforts. Over the years, Citi has streamlined its data centers from 70 to around 20. Recently, it added two new centers in Texas to support these changes. With Google Cloud’s support, Citi may now consolidate further as it shifts more workloads to the cloud.
In the past two years, Citi has retired over 1,250 legacy applications. This overhaul addresses previous compliance challenges and regulatory fines tied to data issues. CEO Jane Fraser described these tech upgrades as a “strategic overhaul” aimed at creating a safer, more efficient digital environment for all stakeholders.
Finally, Thomas Kurian, CEO of Google Cloud, expressed enthusiasm, noting that the partnership underscores Google’s commitment to transforming finance through cloud and AI. By blending Citi’s banking expertise with Google’s tech strengths, both companies aim to enhance the experience for Citi’s clients and employees.
Ultimately, this partnership marks a pivotal step in Citi’s digital transformation journey. It will streamline operations, enhance compliance, and elevate service quality across Citi’s global network.
