Mizuho Bank recently announced the opening of its innovation center, which will be located in the Fintech Center of Tokyo Finolab. The company stated the center would be jointly operated by Mitsubishi Estate Co., Ltd., Dentsu Inc., and Information Services International–Dentsu, Ltd.
Mizuho reported that by establishing the lab, it is aiming to create a fintech ecosystem and enhance customer service.The company also noted that the lab would give it to the opportunity to work in close collaboration with fintech companies and the joint operators of Finolab to create an environment that encourages both open innovation and coming up with ideas for financial services.
In addition to the lab, Mizuho shared it develop two specific business models for advancing additional projects:
- Fintech Ecosystem: Participants create and promote an environment which is ripe for invention, legal reform, and new ideas, ultimately enabling FinTech companies and financial institutions to provide their customers with enhanced services.
- Open Bank API: Will enable a third party to interface with the bank’s IT system to access customer information and create/provide more diverse financial services.