Mizuho boosts risk management strategy
Written by Chris Lemmon
Japan’s Mizuho Bank has partnered with IBM to begin a move towards more advanced and efficient risk management by employing cognitive technology to take measures against financial crimes.
IBM’s Financial Crimes solution is designed to efficiently manage all investigation efforts through streamlined research and advanced investigation techniques. The cloud-based solution analyses a wide range of data sources, including retrieving news sources and extracting data using screening technologies – processes that were previously done manually.
Mizuho’s testing will take place in Singapore, which is at the centre of the growing Asian market and FinTech ecosystem, and is a country that proactively imposes anti-crime regulations. The bank will be collecting and inspecting large volumes of data to meet its requirements and prevent crime before it occurs.
After verifying the pilot, the bank will evaluate using this technology in its global network, including locations outside of Singapore.