Google LLC announced two major new customers for its public cloud infrastructure business today, signing multiyear deals with Twitter Inc. and The Bank of New York Mellon Corp.

Under the deal with Twitter, the social media giant move its offline analytics, data processing and machine learning workloads to Google’s cloud, deepening an existing partnership that dates back to 2018, when Twitter migrated some of its big data processing operations to Google.

Twitter said it was making the move to take advantage of Google services such as BigQuery, which enables super-fast processing of massive amounts of data. Previously, Twitter said its engineers and data scientists would have to develop time-consuming data processing jobs in order to get insights from its data.

The company also plans to use Google’s Dataflow, BigTable and machine learning tools to benefit from more informed decision making in real time. In turn, that will enable Twitter to get a better understanding of how the various features on its apps and website are being used and improve them faster, it said.

“Our initial partnership with Google Cloud has been successful and enabled us to enhance the productivity of our engineering teams,” said Twitter Chief Technology Office Parag Agrawal. “Building on this relationship and Google’s technologies will allow us to learn more from our data, move faster and serve more relevant content to the people who use our service every day.”

“Helping customers manage the entire continuum of data — from storage to analytics to AI — is one of our key differentiators at Google Cloud,” said Thomas Kurian, chief executive of Google Cloud.

BNY Mellon, meanwhile, said it plans to tap Google’s cloud-based data analytics, artificial intelligence and machine learning services to help its customers and employees to do a better job of predicting billions of dollars’ worth of daily settlement failures, generate more capital and liquidity savings, and unlock operational efficiencies within its business.

The bank is uniquely positioned as the main clearance and settlement provider in the U.S. Treasury market, which it says is the largest and most liquid market in the world, so the partnership is a nice showcase for Google’s capabilities in financial services. The bank notes that on an average day, about 2% of all transactions fail to settle

It wants to improve that, so it plans to use Google’s data analytics tools to train AI models on millions of trades so they can consider every single factor and value that could result in transaction failure. That way, it can help to reduce client risk and create a more efficient financial market with fewer failures, BNY Mellon said.

Brian Ruane, chief executive of BNY Mellon Clearance & Collateral Management, said the plan is to develop a new solution that can predict up to 40% of settlement failures in Fed-eligible securities, with 90% accuracy.

“A settlement failure occurs when a buyer and seller fail to exchange cash and securities by the close of business on the scheduled settlement date,” Ruane said. “This prediction model could be a game-changer for market participants and is a tremendous showcase of how we are leveraging emerging technologies, such as the public cloud, to accelerate the delivery of meaningful solutions for our clients.”

Today’s customer wins follow last month’s news that the digital media giant Bertelsmann Music Group is migrating its streaming services and financial transaction operations to Google’s cloud.

Image: Google