HSBC has announced a multi-year deal with Google Cloud to build and deploy AI tools across its global operations.
The bank said the partnership will accelerate its shift towards AI-enabled ways of working in areas including hyper-personalised advice and financial crime risk management.
The partnership gives HSBC access to Google’s latest agentic AI capabilities, including its Gemini models and Gemini Enterprise Agent Platform.
HSBC said the move will provide it with more than 200 new AI use cases over the next two years, simplifying processes as well as helping it to identify and prioritise the highest value initiatives for investment and delivery. The bank estimates that this could return more than $100 million in direct revenue gains and wider efficiency improvements.
HSBC already has over 600 applications running on Google Cloud, it added.
The initial focuses of the partnership will be on hyper-personalised management support, financial crime risk management and AI-empowered teams. This will include providing frontline staff and relationship managers with an expanded AI-powered “decision assistant” that HSBC said is already reducing admin and client meeting prep time from hours to minutes for thousands of users across the organisation.
The new AI systems will also work to codify regulatory procedures into an AI structure that can help consistently provide structured options and analysis that bankers can more effectively use for decision making.
Georges Elhedery, group chief executive at HSBC, 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.”
