Mizuho partners Google Cloud to power digital transformation

Japanese bank holding company Mizuho Financial Group (MFG) has partnered with Google Cloud to turbocharge its digital transformation.

MFG will build a digital marketing platform on Google Cloud

The strategic collaboration will see the firm modernise its systems, build a new digital marketing platform on Google Cloud, and roll out new digital financial service offerings such as Banking-as-a-Service (BaaS).

Mizuho president and group CEO Masahiro Kihara says the group is working with Google to deliver on the evolving needs of its customers in a new era of Covid-19, “along with megatrends such as digitalisation, the aging population, and globalisation, which have led to significant changes in our lifestyles and economies”.

The new digital marketing platform will serve to engage the bank’s retail customers and Mizuho will leverage Google Cloud’s data analytics and artificial intelligence (AI) technology to generate insights on customer preferences and deliver personalised customer interactions.

Mizuho will also tap Google Cloud’s security engineering expertise and development processes to modernise its systems and make its digital infrastructure and system development processes more agile and secure.

Google Cloud CEO Thomas Kurian says Mizuho Financial Group is using Google Cloud to deploy “cloud technology, including real-time data, analytics, and artificial intelligence and machine learning”, the use of which is “progressing rapidly” across Japan’s banking industry.

Headquartered in Tokyo, Mizuho offers a range of financial services, including banking, securities, trust, and asset management services.