As the profiles of its global customers change, so too must the firm leverage cloud- and data-driven insights to keep up.
In its continual quest to cater to the needs of its customers in the pandemic era, Japanese firm Mizuho Financial Group, Inc. has announced its strategic pillars to work on digital transformation through a Cloud service provider.
The four pillars include the use of data-driven platforms; offer Banking-as-a-Service (BaaS); instituting infrastructural reform for security and agility; and developing a cloud-centric approach for product development and problem solving in its corporate culture.
Pillars of cloud- and data-driven DX
- Offering hyper-personalization through data-driven platforms:
As a first step, the bank will build a new digital marketing platform on Google Cloud that is integrated with Google Analytics. With this as its central point of engagement for retail customers, the bank will use advanced data analytics technology to generate real-time insights about customers’ preferences to anticipate varied needs, and leverage AI technology to deliver hyper-personalized experiences.
- Delivering advanced financial services:
Partnering with Google will enable the firm to create new advanced digital financial service offerings such as BaaS. With this initiative, Mizuho aims to create and curate new digital products and services that appeal to customers at scale, and to build more loyal and long term relationships with users.
- Modernizing systems for security and agility:
To advance its goal of becoming a global, open and comprehensive financial group that is trusted by customers, Mizuho will tap leverage the partnership to modernize its systems and make its digital infrastructure and system development process more agile and secure.
- Transforming its corporate culture:
The digital transformation will involve cultural shifts towards an innovative approach to product development and problem solving, to attract top talent.
Said the group’s President & Group CEO, Masahiro Kihara: “To deliver on the needs of our customers in this new era, we’re working with Google to enhance our operational capabilities, innovate across our online and mobile channels, and transform our corporate culture. Through this partnership, we will become a stronger and more resilient financial group which our customers can trust.”
Google Cloud’s CEO Thomas Kurian noted: “The use of cloud technology, including real-time data, analytics, and AI and ML, is progressing rapidly in the banking industry in Japan and we’re thrilled to partner with the bank on its cloud journey.”