CME Group, HSBC and OrBit Markets win Google Cloud Customer of the Year
Google Cloud received hundreds of entries in every geography around the world for the Financial Services Award category, reflecting the high standard of business excellence in this industry
Google has announced the winners of Google Cloud Customer of the Year in financial services and CME Group, HSBC, and OrBit Markets were included in the list.
BV Bank, DZ Bank, Equifax, and the Bureau of the Fiscal Service also figure on the list of best Google Cloud partners from the financial services industry.
CME Group’s case study
By leveraging Google Cloud’s expertise and advanced infrastructure, CME Group has successfully addressed the escalating demand for streamlined and cost-effective data solutions. The collaboration has enabled CME Group to introduce a cloud-based real-time futures and options market data service, a pioneering move that sets it apart as the first derivatives exchange to offer such innovation.
The partnership’s key achievements include:
Delivering market data at approximately 10% of the traditional cost.
Offering an on-demand, pay-as-you-go model for market data consumption, expanding its customer reach.
Expanding global access through over 20 computing locations worldwide.
This collaboration has enabled CME Group’s customers, including banks, hedge funds, retail investors, and cryptocurrency traders, to access accurate and reliable market data, empowering them to make informed investment decisions and manage risks effectively.
HSBC’s case study
By leveraging Google Cloud’s AI and machine learning capabilities, HSBC has significantly reduced the time required for quality review, enhancing its customer call center services and fostering innovation in product development.
The key outcomes of this collaboration include:
Streamlined quality review process for sales calls, leading to improvements in conversations and compliance.
Swift feedback mechanism for enhancing quality at an agent and center level, elevating overall customer satisfaction.
Reduction of machine learning model runtime from one week to just one hour.
Development of Natural Language Processing (NLP) solution to review Cantonese-English contact center conversations.
HSBC’s Hong Kong Contact Centre, serving over 1.5 million customers through 20 million annual interactions, faced the challenge of efficiently handling high call volumes while maintaining quality assurance for Cantonese-English speech. The bank’s Intelligence Hub, dedicated to data science and AI, collaborated with Google Cloud to develop an Automated Quality Management system. This system employs AI-driven NLP to classify and extract sentiment from customer conversations, offering insights for agent improvement and customer service enhancement.
Through Google Cloud’s capabilities, HSBC optimized its machine learning models and accelerated its innovation endeavors.
OrBit Markets leverages Google Cloud to offer digital asset derivatives liquidity solutions
OrBit Markets, the leading institutional liquidity provider in digital asset options and structured products, also received the 2023 Google Cloud Customer Award for Financial Services Industry.
Building a digital asset derivatives trading business requires cutting-edge technology combined with stringent security requirements. Exchange market-making generates massive volumes of trading data that are then processed using machine learning techniques in order to continuously refine liquidity provision algorithms.
Managing the risk of innovative and bespoke financial products is also very computationally intensive, involving billions of simulations to be run throughout the day.
This Google Cloud Award highlights OrBit’s success in leveraging Google Cloud’s powerful storage solutions, serverless architecture, and access management systems in order to offer digital asset derivatives liquidity solutions in full compliance with regulatory expectations.
OrBit Markets is an institutional liquidity provider of digital asset options and structured derivatives. OrBit Markets offers a wide range of products, including vanilla options, exotic options, and structured derivatives across major and alternative cryptocurrencies. Its services encompass structuring, trading, and market making.