IBM Japan announced Thursday (June 8) the launch of API banking for Mizuho Bank, that provides the bank with the ability to tailor services to its customers.
In a press release IBM announced the bank will use IBM Japan’s FinTech API solution, as well as IBM API Connect on the IBM Cloud and IBM DataPower Gateway.
“API banking becomes a crucial step that helps drive open innovations by new technologies for customers, business partners, and Mizuho Bank,” said Masahiko Kato, senior technical officer with Mizuho Bank in the press release. “Instead of competition, Mizuho continues to collaborate with business partners to create and provide innovative, secured services for customers.”
According to the companies ,the shift to API banking at Mizuho Bank is the result of a digital initiative among Japanese financial institutions to embrace APIs. The technology will enable banking customers to utilize Personal Financial Management services provided by Mizuho’s business partners and enable it to offer IoT Payment services tailored to customers’ needs and tastes. Through these, Mizuho Bank is aiming to enhance the digital customer experience, the bank said.
“Mizuho Bank continues to transform digital customer experience with new solutions that integrate their existing assets with the security-rich IBM Cloud,” said Masao Sanbe, managing director of industry sales, IBM Japan said in the same press release. “IBM is delighted to provide IBM’s cloud and cognitive technologies with our expertise to help Mizuho provide quality services to the customers.” IBM Japan’s FinTech API solution provides financial institutions with necessary items such as balance inquires in domestic banking operations. Mizuho Bank will also leverage IBM API Connect, which offers capabilities to create, run, and manage APIs and microservices. IBM Japan will collaborate directly with Mizuho Bank to offer advanced IoT Payment services to its customers, all within the IBM Cloud, the companies said in the release.