According to the article no customer data will be stored at Google's datacenters.
Yeah this is only about office software.
And since in the article it says "its not about costs", its for sure about cost ;-)
Google will probably be bank rolling a significant % of the transition project.
It's hard to imagine an environment where users are using spreadsheets, documents and email on Google's servers and not leaking some customer data into those tools.
Google has multiple datacenters in Europe.
Seeing how that worked out with European flights passenger data, I am surprised there is no discussion of making European banking data being stored outside of Europe somehow mandatory - to prevent terrorism and all that good stuff.
There was a good deal of discussion around storing European banking data in the US by the SWIFT network. The anti-terrorism legislation passed in the US which in effect meant that European banking customer data was accessible to the US. This was in violation of EU privacy laws.
This was in violation of EU privacy laws.
Wich did not prevent the "information exchange". Anti-Terrorism beats any other legal arguments.