The trio has said that their service will differ from other start-ups as it will utilise the best of Google Cloud and Google Cloud partner technologies, Wipro’s domain and technology expertise and Cynergy Bank’s relationship management know-how.

The aim of the partnership is to create and develop a presence in the market for small business owners and professionals.

Cynergy Bank is now owned by a group of private investors and has secured a deal for an undisclosed sum for Google to create a new digital platform using cloud technology. The start-up will be launched early next year.

The internet giant may be able to use the experience of creating a hybrid technology and personal banking model in future partnerships, while Cynergy hopes to boost its 80,000 customers to between 300,000 and 500,000 over the next three years.

Cynergy largely caters for business owners, entrepreneurs and the wealthy, a group who often want products that are more complicated than mainstream lending and so require relationship managers.

Nick Fahy, Cynergy’s chief executive, said that the bank is ‘redefining what it means to be a relationship bank in the digital age, with face-to-face service blended with amazing technology’.

He said: “Our digital relationship bank – the first in the UK – will launch in early 2021, will enable our relationship managers to become growth advisors to their SME clients, with a suite of inputs, which will be delivered digitally. These include data insights into market dynamics and business performance by sectors. Each of the relationship managers will share these insights with customers so that they can review their business performance against the market and generate tangible actions to drive growth and deliver efficiencies.

“We are creating an end-to-end banking and business services technology platform based on Google Cloud and Wipro’s extensive financial services, digital and technology experience. We are really excited about what this new platform will offer our new and existing customers.”

Mr Fahy said that the aim of the partnership is to transform the present balance, where relationship managers spend about 30% of their time with clients and 70% on internal processes, to spending % to 80% with customers, using better processes and data analytics.

Financial institutions are increasingly utilising cloud computing as a way of streamlining their systems. Google’s Cloud service is already used by banks such as HSBC, Lloyds, Revolut, Starling and Monzo.

Adrian Poole, head of financial services at Google Cloud Platform UK & Ireland, said: “The exciting part of this particular partnership is that Cynergy will offer a personal relationship experience, alongside the infrastructure and software of a fully digital bank. This is ideal for small and medium businesses that need the capability and capacity to grow fast.”