HSBC and Google Cloud announce transformative AI banking partnership

We’ve announced a multi-year partnership with Google Cloud to build and deploy artificial intelligence capabilities across our operations globally.

The partnership – announced to coincide with the Google Cloud Summit in London – will aim to accelerate innovation in areas such as hyper-personalised wealth management advice for customers and financial crime risk management.

It will further accelerate our global shift towards AI-enabled ways of working. We’ll work with Google Cloud and Google DeepMind engineering teams to collaborate on new AI-powered tools and programmes, with access to Google’s latest agentic AI capabilities, including Gemini models.

The programme is expected to enable more than 200 new AI use cases over the next two years, while supporting the identification and prioritisation of the highest-value initiatives for investment and delivery at HSBC. We estimate the benefit value will exceed $100m, through either direct revenue gains or wider efficiency improvements.

These additional use cases will be on top of an existing footprint of more than 600 HSBC applications already running on Google Cloud.

Why it matters

“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,” said Georges Elhedery, our Group CEO.

“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.”

The programme will begin with three initial focus areas:

• Hyper-personalised wealth management support: We’ll transform how we serve our clients by combining smarter, AI-driven insights with relationship manager expertise to provide more proactive, tailored financial support and real-time advice to customers
• Stronger financial crime risk management: We’ll deploy generative AI and agentic AI to build a financial crime architecture that detects risks at an earlier stage, helping to prevent harm and creating a more seamless experience for customers. Through these initiatives, we expect to be able to intervene twice as fast when risk is detected, including across the near one billion transactions we monitor for signs of financial crime every month
• AI-empowered teams: We’ll supercharge our frontline colleagues and relationship managers with the expansion of an AI-powered decision assistant that is already reducing admin and client meeting prep time from hours to minutes for thousands of users

“Our partnership with HSBC is a blueprint for the future of the financial services industry,” said Thomas Kurian, Google Cloud’s CEO.

“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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