HSBC and Google Cloud will jointly build and deploy AI capabilities across HSBC’s global operations, targeting more than 200 new AI use cases over the next two years, each of which HSBC estimates could return more than $100 million in direct revenue gains or efficiency improvements.
The two sides have reached a multi-year partnership for the move, HSBC said in a statement on Wednesday. Under the agreement, HSBC will work with Google Cloud and Google DeepMind engineering teams, gaining access to Google’s agentic AI capabilities including Gemini models and the Gemini Enterprise Agent Platform. This builds on an existing footprint of more than 600 HSBC applications already running on Google Cloud.
The program will begin with three focus areas. On wealth management, HSBC will combine AI-driven insights with relationship manager expertise to help thousands of relationship managers provide more proactive, tailored financial support to clients.
For financial crime, HSBC will deploy generative and agentic AI to detect risk earlier, expecting to intervene twice as fast across the nearly one billion transactions the bank monitors for financial crime signs each month.
Regarding internal operations, HSBC will expand an AI-powered decision assistant that has already reduced administrative and client meeting preparation time from hours to minutes for thousands of users, while also codifying regulatory procedures into an AI structure to support banker decision-making.
Georges Elhedery, Group CEO of HSBC, said AI is becoming one of the defining technologies of the era, allowing the bank to create personalized customer experiences at scale while keeping human judgement, decision-making, and accountability at the core.
Thomas Kurian, CEO of Google Cloud, said the partnership is a blueprint for the future of the financial services industry, combining Gemini, the Gemini Enterprise Agent Platform, forward-deployed engineers, and Google DeepMind’s research expertise to help HSBC build a more intelligent, resilient, and responsive bank.
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