Mizuho understood to be rolling out Flexcube core banking tech
EXCLUSIVE: One of Japan’s largest banks, Mizuho Bank (Mizuho Financial Services), is understood to be implementing Oracle FSS’s Flexcube to modernise its corporate and commercial banking business, reports Martin Whybrow.
The bank is believed to be embarking on a multi-year project to replacing multiple systems across its international operations, leading to standardisation on Flexcube, linked to a number of other Oracle FSS applications.
The project was hinted at in Oracle FSS’s latest financial results, which stated: “A leading Japanese bank has extended its relationship with Oracle by signing a deal for Oracle’s Core banking, Limits and Collateral Management, Corporate Lending, and Analytical Application Software solutions.”
The bank uses a range of platforms in its international operations, including Finastra’s old MidasPlus workhorse in Europe (the bank has operations in London, Frankfurt, Paris, Amsterdam, Milan and Madrid) and Asia.
Mizuho provides a wide range of services including syndicated loans, acquisition financing, trade finance, risk management, working capital and structured finance plus treasury operations covering deposit taking and foreign exchange, current account and cash management services.
No one from Oracle FSS was willing to comment.