The two companies have been working together since 2018, and Commerzbank has been trying to increasingly digitize its business in recent years.

The announcement comes as Germany's No. 2 lender works on a strategic plan under a new chief executive officer, with details expected in the coming weeks.

The bank, still partially owned by the government after a bailout, has recently announced write-offs and an increase in risk provisions for credit losses tied to the coronavirus pandemic.

"Cloud computing is a key technology for the digital transformation of Commerzbank," the bank said.

(Reporting by Tom Sims; editing by Thomas Seythal and Thomas Escritt)