[AI]HSBC expands AI banking partnership with Google Cloud

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HSBC has entered a multi-year partnership with

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Cloud to develop and deploy artificial intelligence tools across its global operations.

Announced at

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Cloud Summit London 2026, the agreement covers work in wealth management, financial crime risk management, and internal decision support. HSBC will work with

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Cloud and

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DeepMind engineering teams on AI tools and programmes using Gemini models and the Gemini Enterprise Agent Platform.

AI rollout across HSBC

HSBC expects the partnership to support more than 200 AI use cases over the next two years. Selected initiatives could each return more than US$100 million through direct revenue gains or efficiency improvements, according to the bank.

HSBC had existing AI deployments before the

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Cloud agreement. In its 2025 Strategic Report, the bank said it had more than 100 active generative AI use cases and was increasing AI partnerships.

HSBC says it has more than 600 AI use cases across the group. These include fraud detection, cyber security, transaction monitoring, customer service, and risk assessment. More than 600 HSBC applications already run on

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Cloud.

A 2026 Cambridge Centre for Alternative Finance report found that 71% of surveyed industry respondents were adopting generative AI, while 52% were adopting agentic AI.

Existing AI work

HSBC announced a separate multi-year partnership with Mistral AI in December 2025. The agreement gives the bank access to Mistral AI’s commercial models. HSBC said the models would support internal tools, financial analysis, multilingual reasoning, translation, and prototyping.

HSBC has listed other generative AI uses in credit analysis, customer support, document analysis, and text assistance. CIO Dive reported in February that 85% of HSBC employees had access to generative AI tools.

The report also said the bank was assessing the technology across 50 processes, including fraud detection and credit applications.

Financial crime detection

The

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Cloud agreement follows earlier AI work between HSBC and

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in financial crime detection. HSBC has previously said it partnered with

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to co-develop Dynamic Risk Assessment, an AI system used to check for financial crime.

HSBC said the system was piloted in 2021 and found two to four times more financial crime than previous methods.

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Cloud has said HSBC screens more than 1.2 billion transactions each month for signs of financial crime.

Under the new partnership, HSBC will use generative AI and agentic AI in financial crime risk management. The bank expects the tools to help it intervene twice as fast when risk is detected across the nearly one billion transactions it monitors each month.

Wealth and staff tools

In wealth management, HSBC plans to combine AI-generated insights with the work of relationship managers. The bank said the tools are intended to support financial advice and client service.

HSBC said it will expand an AI-powered decision assistant already used by thousands of employees. The tool has reduced administrative work and client meeting preparation from hours to minutes, according to the bank.

HSBC has applied generative AI in software development. More than 20,000 developers are using coding assistants, with a 15% efficiency gain in time spent coding, according to the bank.

HSBC plans to use AI to organise regulatory procedures into a structured format. The bank said this would provide employees with options and analysis for decision-making while keeping human judgement involved.

AI leadership

In March, HSBC announced that David Rice would become its first Chief AI Officer, effective 1 April. HSBC said the role was created to oversee AI adoption across the group.

Georges Elhedery, Group CEO of HSBC, said the bank is using AI to create more personalised customer experiences while retaining human judgement and accountability.

Thomas Kurian, CEO of

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Cloud, said the partnership would support HSBC’s AI work through Gemini, the Gemini Enterprise Agent Platform, and

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DeepMind’s research expertise.

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