Google Cloud today inked a landmark, multi-year deal to provide cloud services and jointly developed financial applications to Deutsche Bank.

The deal is a significant win for Google, which is currently the third-largest hyperscale cloud provider with 8% of the global market share. The multinational investment and financial services firm, which is currently valued at $20.47 billion, said it selected Google Cloud after five months of “intensive discussions” with Google, Microsoft, and Amazon.

Deutsche Bank is pursuing a multi-vendor cloud strategy to transform its operations with digitized services and has committed to invest about $14.7 billion in technology through 2021, according to Reuters. The news outlet also reported that the company expects its partnership with Google to generate $1.13 billion in accumulated earnings during the next decade.

The multi-year arrangement, which is expected to get underway in the next few months, calls for Google to help Deutsche Bank modernize its IT architecture, improve current systems, and build new financial services riding on the cloud.

“The partnership with Google Cloud will be an important driver of our strategic transformation,” Deutsche Bank CEO Christian Sewing said in a statement. “It demonstrates our determination to invest in our technology as our future is strongly linked to successful digitization. It is as much a revenue story as it is about costs.”

Potential outcomes of the partnership include simplified interactions between customers and employees, cash flow forecasting, improved risk analytics, and advanced security, according to Google. “The cooperation with Google Cloud is a significant step forward for our technology strategy, and will transform the way we produce and deliver our client services,” Bernd Leukert, the bank’s chief technology, data, and innovation officer, said in a statement.

The U.S. Federal Reserve considers Deutsche Bank a badly managed lender in “troubled condition,” and it has been caught in multiple schemes, including money laundering and fraudulent mirror trading. The firm, during its most recently closed quarter, reported a 5.88% year-over-year decline in revenue of $6.61 billion and a 76% slide in net income of $48.56 million.

Both companies have committed to adhere to compliance standards with respect to privacy and data protection to “maintain the confidentiality, integrity, and availability of customer data and Deutsche Bank’s information assets,” according to Google.

The deal with Google was announced the same day Deutsche bank agreed to pay a $150 million penalty to New York state financial regulators “for significant compliance failures” in its relationship with accused child sex trafficker Jeffrey Epstein, who died by apparent suicide last summer.

Germany’s largest bank is also President Donald Trump’s largest creditor with financial dealings dating back decades. The U.S. Supreme Court is currently considering a case that could require more details of that relationship to be made public.