KeyBank to Go Cloud-First With Google’s Help

Google Cloud, KeyBank and Deloitte have embarked on a multi-year partnership designed to accelerate the bank’s commitment to cloud-first banking.

The collaboration, announced by the companies in a news release Thursday (Feb. 3), will make the Cleveland-based KeyBank one of the country’s largest regional banks to operate its main platforms and applications on Google Cloud infrastructure.

The agreement will see KeyBank migrate its infrastructure to the cloud starting this year, with plans to move most of its products and services there by 2025.

“KeyBank will leverage Google Cloud’s advanced data solutions and artificial intelligence (AI) technologies to enhance the bank’s client-first approach with more flexible, personalized digital banking experiences that meet client needs faster and more securely,” the companies said.

For example, the bank will use Google Cloud’s conversational AI virtual agent, Contact Center AI, to offer more natural and accurate interactions to solve client needs, like giving call center agents information about customers’ pending charges and a specific FAQ before they connect.

Deloitte, in its capacity as KeyBank’s systems integrator, will help facilitate and optimize the bank’s move from data centers to Google Cloud.

This partnership is an extension of an early KeyBank/Google Cloud collaboration, as the bank was an early adopter of Anthos, Google’s multi- and hybrid-cloud management platform, and Kubernetes, Google’s open source cloud software solution.

The cloud also helped KeyBank launch its first digital healthcare-focused bank, Laurel Road for Doctors, last year.

As PYMNTS reported at the time, the bank is geared toward healthcare professionals to help them chart a path toward financial health by tackling financial tasks such as paying down student debt and planning for their financial future.

Medical professionals have needs that are fundamentally different than other white-collar professionals, Jamie Warder, executive vice president and head of digital banking at KeyCorp, said in an interview with PYMNTS.

“There’s very few individuals in the world that’ll have $200,000 in debt for their first four years of professional life and only $50,000 of earnings … but after four years jumps to $250,000 in earnings,” he said.