HSBC and Google Cloud are collaborating to build and deploy AI capabilities across HSBC’s operations globally, accelerating innovation in areas such as hyper-personalised advice and financial crime risk management.
This multi-year partnership is intended to further accelerate the shift towards AI-enabled ways of working across HSBC’s global operations. HSBC will 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 and the Gemini Enterprise Agent Platform.
The partnership is expected to enable more than 200 new AI HSBC use cases over the next two years. Along with simplifying processes, it will also support the identification and prioritisation of the highest-value initiatives for investment and delivery at HSBC, each of which the bank estimates could return more than US$100 million in either direct revenue gains or wider efficiency improvements.
This is on top of an existing footprint of more than 600 HSBC applications already running on Google Cloud.
The programme will begin with three initial focus areas. First, hyper-personalised wealth management support. HSBC will transform how it serves its clients in wealth management support by combining smarter, AI-driven insights with relationship manager expertise.
This will help thousands of HSBC relationship managers provide more proactive, tailored financial support and real-time advice to customers at every stage of the client journey in a secure way.
Second, stronger financial crime risk management. HSBC will deploy generative AI and agentic AI to build a financial crime architecture that detects risk at an earlier stage, helping to prevent harm and creating a more seamless experience for customers.
Through these initiatives, HSBC expects to be able to intervene twice as fast when risk is detected – including across the near one billion transactions the bank monitors for signs of financial crime every month.
And third, AI-empowered teams. HSBC will support its frontline staff 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.
The bank will also work to codify regulatory procedures into an AI structure to help consistently provide structured options and analysis, which bankers can more effectively use for decision-making.
This gives HSBC colleagues time to focus on delivering faster insights with a personalised human touch, while keeping human judgement at the centre.
“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, group CEO of HSBC.
“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,” said Elhedery.
Thomas Kurian, CEO of Google Cloud, said: that by accelerating AI adoption, HSBC is building a more intelligent, resilient, and responsive bank.
