The multi-year partnership will initially focus on wealth management support, financial crime risk management and tools for frontline employees and relationship managers across HSBC’s global operations
HSBC plans to develop more than 200 AI use cases with Google Cloud while prioritising projects expected to deliver over $100 million each in revenue or efficiency gains.
The multi-year partnership will initially focus on wealth management support, financial crime risk management and tools for frontline employees and relationship managers across HSBC’s global operations.
HSBC will work with engineering teams from Google Cloud and Google DeepMind to develop new AI tools and programmes.
The initiative builds on more than 600 HSBC applications already running on Google Cloud.
In wealth management, the bank plans to combine AI-generated insights with relationship managers’ expertise to provide more timely and personalised customer support.
HSBC will also use generative and agentic AI to identify financial crime risks earlier.
The bank expects the technology to help it intervene twice as quickly when potential threats are detected.
It monitors close to one billion transactions each month for signs of financial crime.
The partnership will also expand an AI decision assistant already used by frontline staff and relationship managers.
According to HSBC, the tool has cut administrative work and client meeting preparation from hours to minutes for thousands of employees.
The companies also plan to codify regulatory procedures into an AI framework that gives bankers structured options and analysis for decision-making.
HSBC 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, he said.
Google Cloud CEO Thomas Kurian said: Our partnership with HSBC is a blueprint for the future of the financial services industry.
He said: 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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