Bendigo Bank goes all in with tech behemoth

BENDIGO Bank has locked in a long-term agreement with Google that it claims will ensure its workforce and customers gain advantage from the global search giant’s latest artificial intelligence capabilities, digital skills and cybersecurity defences.

The partnership will see the bank embed Google Cloud’s AI, security and training solutions as part of its 2030 strategic plan, a strategy it says is being implemented in part to “make life easy with digital.”

The agreement is expected to provide benefits including processing customers’ lending and refinancing applications faster with automated lending, title and document search functions.

It’s also hoped that it will help identify potential instances of financial crime using AI models to flag high-risk transactions.

Generative AI will also be deployed to analyse and query bank data and identify product-market gaps.

CEO Richard Fennell said the agreement is about democratising AI and taking Bendigo Bank to the next level.

“By putting these tools in the hands of our people, we’re creating a workforce that’s well-equipped for the future,” he said.

“The digital ecosystem we’ve built with Google Cloud will give our people more time to focus on supporting our customers within a world-class security and governance environment.”

Google Cloud Australia and New

Zealand vice president Paul Migliorini said Google is committed to its long-term relationship with Bendigo Bank.

“Its dedication to customers and people has always been evident,” he said.

“Through our ongoing sharing of knowledge and best practices, we’re confident that the Bank’s employees will become AI innovators in their own right.”