The plan involves Mizuho integrating Oracle’s banking solutions to support critical functions, including direct deposit accounts and liquidity management, at its operations in important overseas offices. The implementation has already begun with the replacement of Mizuho’s legacy banking system at its New York offices.
By leveraging Oracle’s solutions, Mizuho will be able to benefit from features such as real-time processing support, a high level of STP for deposit operations and cash management services, and integrated postings between branches and subsidiaries for core banking operations.
Oracle officials cited by ffnews.com highlighted the company’s ability to help banks from around the world to standardise on a modern set of technologies and improve how they conduct business across multiple geographies. They also mentioned how Mizuho’s integration with Oracle can help improve the speed and flexibility of its most important systems with the end goal of enhancing user experience.
Mizuho Bank officials cited by the same source explained why they’ve chosen Oracle as their new partner by highlighting their proven solutions and expertise in their market. They also expressed their trust that Oracle could deliver the security, scalability, and resilience required, and that its offering could allow Mizuho to quickly adapt to changes in the market and capitalise on new opportunities.
In January 2023, Mizuho Bank has partnered with Japan-based multinational IT company Fujitsu in order to develop services for clients to manage ESG and SDG data. The collaboration focused on combining the solutions provided by both institutions to visualise CO2 emissions that appear across the entire supply chain.
Together with Mizuno Bank’s customer network and knowledge of energy and environmental solutions, the cloud services of Fujitsu allowed clients to improve their decarbonisation efforts and improve the efficiency of sustainable management plans. In essence, this collaboration aimed to help customers in their efforts to reduce their carbon footprint.
By managing numerous ESG data, including waste management, energy consumption, occupational health, and safety information, as well as CSR activities, the service will offer companies the possibility to respond to the Japanese law concerning the Rational Use of Energy, while accurately disclosing information for global reporting standards, like CDP (2), TCFD (3), SBT (4), or RE100 (5).
Apart from offering initiatives about climate change, Mizuho is also improving its financial services and solutions to offer customers the possibility to combat climate change and contribute to the realisation of a carbon-free industry and society.
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