Tokyo-based Mizuho Corporate Bank has selected application software provider Misys Midas Plus with Global Processing solution to support its international growth strategy.
The integrated core banking solution will help Mizuho to deliver improved efficiencies and more informed decision-making within its commercial and investment banking operations and ensure a consistent level of customer service across the bank’s global network, said Misys.
According to Misys, Mizuho’s business strategy has two elements. First, the bank is combining its commercial banking and investment banking capabilities to offer its corporate customers a complete portfolio of services, including syndicated loans, M&A deals, leveraged finance, project finance, cash management and securities. Secondly, the bank is applying this business model on a global scale by extending the geographic coverage of its international network.
Misys has said that Midas Plus with Global Processing will be used to centralize IT systems servicing branches throughout Europe. This will enable the bank to standardise business processes across its network, yet deliver the flexibility required to meet local regulatory environments and regional variations in business practice. Having a single system to support multiple branches will allow a single update to reflect changes into all the offices using Midas Plus with Global Processing.
Misys claims that by consolidating the IT infrastructure, the bank will streamline operations, deliver a consistent level of service to customers and improve the speed at which it can roll out additional branches. Midas Plus will reduce complexity and simplify the bank’s IT infrastructure, resulting in cost reduction, better access to information from across the business and a faster response to changes in the industry.