After a successful implementation in
New York, the Japanese banking
giant continues its phased roll-out of Oracle's banking
solutions
TOKYO and AUSTIN,
Texas, Feb. 2, 2023 /PRNewswire/ -- Mizuho Bank, Ltd., the integrated retail and
corporate banking unit of Mizuho Financial Group and one of
Japan's largest financial services
institutions, is modernizing its legacy banking system for
international operations with Oracle. Over the coming years,
Mizuho will implement Oracle's banking solutions to support
critical functions, including direct deposit accounts and liquidity
management, at its operations in major overseas offices. The
roll-out began with the successful replacement of Mizuho's legacy
banking system at its New York
offices.
"When considering replacing our legacy banking system, we sought
a partner with proven solutions and expertise in our market, to
help us deliver greater value, faster," said Takafumi Kawamura, General Manager of IT &
Systems Control Department No2, Mizuho
Bank. "We knew Oracle could deliver the security,
scalability, and resilience required. Its functionally rich
offering will enable us to quickly adapt to changes in the market
and capitalize on new opportunities now and into the future."
Oracle's solutions are allowing Mizuho to enjoy the benefits of
real-time processing support, a high level of STP for deposit
operations and cash management services, and integrated postings
between branches and subsidiaries for core banking operations.
"Mizuho prides itself on building lasting customer relationships
by leveraging its global reach to act faster, see further, and
adapt better in every decision, every day," said Sonny Singh, executive vice president and
general manager of Oracle Financial Services. "We have long been
recognized for our ability to help the world's largest banks
standardize on a modern set of technologies to significantly
improve how business gets done across multiple geographies. With
Oracle, Mizuho can deliver on its customer-centric mission by
gaining agility, flexibility, and speed across the systems that
matter most. With this Oracle foundation, the bank will be able to
continue to evolve its products and services to best meet the needs
of both its customers and stakeholders around the globe."
In addition to its use of Oracle FLEXCUBE and Oracle Banking
Liquidity Management, Mizuho Bank
also recently went live on Oracle Fusion Cloud Enterprise Resource
Planning (ERP) to support financial processes in its NY accounting
department. The bank will expand the deployment to include the
bank's operations in Singapore and
additional global business centers.
Learn more about Oracle Financial Services at:
www.oracle.com/financial-services
Oracle Financial Services
Oracle Financial Services
provides solutions for retail banking, corporate banking, payments,
asset management, life insurance, annuities, and healthcare payers.
With our comprehensive set of integrated digital and data
platforms, banks and insurers are empowered to deliver next
generation financial services. We enable customer-centric
transformation, support collaborative innovation and drive
efficiency. Our data and analytical platforms help financial
institutions drive customer insight, integrate risk and
finance, fight financial crime, and comply with regulations. To
learn more visit our website at https://www.oracle.com
/financial-services.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
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trademarks of Oracle Corporation.
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SOURCE Oracle