36.6 F
New York
Wednesday, January 27, 2021

Alphabet Inc. [NASDAQ: GOOGL] And Deutsche Bank [NYSE: DB] To Join Forces To Transform Banking

Must read

JPMorgan [NYSE: JPM] Announced To Initiate A Digital Retail Bank In The United Kingdom

JPMorgan Chase revealed that the company will launch a new digital retail bank in the United Kingdom offering the customer of the region...

Humanigen [NASDAQ: HGEN] Announces Expansion Of Manufacturing Agreement With Ajinomoto Bio-Pharma

Humanigen Inc revealed that the company has extended the manufacturing agreement with  Ajinomoto BioPharma to support the fill-finish of Lenzilumab. The Lenzilumab is...

Synchrony [NYSE: SYF] Announced To Purchase Allegro Credit

Synchrony Financials revealed that the company entered into a definitive contract to Purchase Allegro Credit. Allegro Credit's customer base and merchant network will...

Vericel Corp [NASDAQ: VCEL] Names Joe Mara As The New CFO

Vericel Corporation revealed that the company has named Joe Mara as the CFO of the company. He has over more than 20 years...

Alphabet Inc. Google [NASDAQ: GOOGL] and Deutsche bank AG [NYSE: DB], a multinational investment bank both agreed to start a strategic partnership. The main aim of this partnership is to transform the banking services and redefine the concept of banking and provides financial services in different ways.

The strategic partnership between Deutsche Bank and Google cloud is unique in a way that it will not only provide the advanced cloud services to Deutsche Bank but also committed to providing the technology-based financial services to clients.

Both the companies first signed the letter of intent and planned to sign a multiyear contract with-in a few coming months. After launching a strategic partnership with Google, Deutsche Bank will transform its IT architecture and thus generate value for its clients.

Shares of Alphabet Inc. showed a percentage of 2.02% and recorded a change of +29.72 during the last trading session on Monday. Its closing price is $1499.65. GOOGL had a trading volume of 2.22 million as compared to the average volume of 2.08 million.

Its stocks have fluctuated between a low of $1008.87 and a peak of $1530.74. This company has a return on investment, equity, and assets of $14.10%, 17.40%, and 12.90%.

On the other hand, Deutsche Bank AG soared 4.41% at $9.95 during the last trading session on Monday. DB has a day low and day high range of $9.88-$10.07, respectively. It has reported an Operating Margin of 52.30%, and a Profit Margin of -24.30%.

After the strategic partnership, Deutsche Bank will be able to gain direct access to world-class data science, artificial intelligence, and machine learning to better serve customers. CEO of Google Alphabet Inc. said that Deutsche has been an industry pioneer and has a strong position in the financial services sector.

Bernd Leukert, chief technology, Data and innovation officer of Deutsche Bank AG said: “The cooperation wiith google cloud will transform the way we produce and deliver our client services.”

More articles

Latest article

A Paychex [NASDAQ: PAYX] Subsidiary Announces Strategic Collaboration With Zoho Books

SurePayroll, a subsidiary of Paychex company revealed that the company has formed a collaboration with Zoho books. SurePAyroll is a provider of small...

MGP Ingredients [NASDAQ: MGPI] Announced To Acquire Luxco and Its Affiliate Companies

MGP Ingredients  revealed a definitive contract to purchase Luxco, Inc and its affiliated companies. Luxco is an alcohol beverage company with more than 60...

Conformis [NASDAQ: CFMS] Entered A Non-Exclusive agreement with SITES Medical

Conformis Inc revealed that the company inked a development and supply contract with sites medical. Both of the companies will work together to...

Colliers International [NASDAQ: CIGI] Announces Executive Leadership Changes For Australian Business

Colliers International  reported that the company has named Malcom Tyson as the new Chief Executive Officer. He is appointed as the CEO so...

Korn Ferry [NYSE: KFY] Announces Expansion Of Its Footprint In Russian Market

Korn Fery revealed that the company is expanding its footprint in Russia. Moreover, it is adding a high expertise team of executive search...

Haemonetics [NYSE: HAE] To Purchase Cardiva For An Upfront Payment Of $475M

Haemonetics Corporation revealed that the company has inked a definitive contract to purchase Cardiva Medical Inc. Under the contract, Haemontics will pay an...

Philips [NYSE: PHG] To Purchase Capsule Technologies For Cash Consideration Of USD 635M

Koninklijke Philip revealed that the company has inked a contract to purchase Capsule technologies. The company will pay a cash price of $636...

Thermo Fisher Scientific [NYSE: TMO] To Purchase Mesa Biotech For Approx. $450M In Cash

Thermo fisher scientific inc revealed that the company has signed a definitive contract to purchase Mesa Biotech. Thermo will pay a value price...