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Mizuho to launch fintech venture.

Global Banking News-May 26, 2017--Mizuho to launch fintech venture

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Global Banking News - 26 May 2017

Japan-based Mizuho Financial Group is said to be planning to launch a fintech venture.

The firm is expected to launch a venture in June. Speaking to Reuters, Daisuke Yamada, the bank's chief digital innovation officer, said the company already has around 20 projects ready for the venture. The projects would use blockchain or AI in areas including farming and travel.

Yamada said, 'If we try to pursue business innovation within the bank, we have to ask around for permission from people in risk management, compliance and others. It takes forever. It's not like building nuclear reactors or railway systems. If projects flop, all the costs wasted will be labour costs; we can move on to the next ones.'

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Publication:Global Banking News (GBN)
Date:May 26, 2017
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