French bank Crédit Mutuel has partnered with IBM to utilise digital technologies for improving its banking services.

The collaboration will see the deployment of IBM Cloud, Watson and other advanced cybersecurity technologies to upgrade the process of developing and maintaining customer relationships.

Initially, Crédit Mutuel will deploy IBM Watson across all its businesses including consumer credit, personal protection, health, payment instruments as well as risk and compliance.

In the second stage, the French lender will combine IBM Cloud, Security and Watson in a step to redevelop partner relationships and operations.

Crédit Mutuel CM11 Group chairman Nicolas Théry said: “Crédit Mutuel is deeply involved in a strategic partnership with IBM that will enable it to use technology and innovation to help people.

“Through this new joint-construction stage, Crédit Mutuel is enabled to transform its productivity gains and growth opportunities and pave the way for new services for millions of Crédit Mutuel customers and members.”

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IBM will also equip Crédit Mutuel to manage risk and compliance issues including anti-money laundering terrorism financing by strengthening controls and surveillance.

The Watson services are secured in a completely encrypted and isolated environment in France with a back-up in Germany.

Furthermore, Crédit Mutuel has selected IBM QRadar Security Intelligence to procure all cyber security information across the world.

This information will be analysed by a team of security analysts and help the bank to tackle all cyber attack attempts.

Both the companies will also open the Cognitive Factory to bring together artificial intelligence engineers and business managers and IBM experts.

The Cognitive Factory, a result of a two-year experiment by a joint taskforce, is expected to help in the development of new solutions that fulfil the requirements of customers, members, and advisors.