The Japan News by The Yomiuri Shimbun
Financial firms seek new opportunities in helping with digital transformation
Financial companies are racing to nd new value with the latest digital solutions. Megabanks and other nancial institutions are using their expertise in processing large volumes of payments in order to expand the range of their business contacts and explore new opportunities.
Blue Lab Co., an IT venture backed by Mizuho Bank, recently started o ering training courses aimed at improving workers’ digital skills. Based in Tokyo’s Toranomon district, the classes focus on improving the digital skill levels of nonexperts, rather than those already in highly specialized IT positions.
“It is important to be able to talk with outside contractors on an equal basis and create a system in which all people concerned can work comfortably,” said Blue Lab’s Yoshiaki Tamura.
Members of the Yamanashi Chuo Bank, Ltd.’s digital transformation and innovation promotion o ce have been taking the initial classes of the
monthslong course.
Lessons will include the usage of cloud-based systems and arti cial intelligence.
“I will be able to use what I learn here when helping business partners, for example,” said participant Yohei Otagiri, 31.
In April, Resona Holdings Inc. established the Resona Digital Hub Co. in collaboration with IT companies and has held business negotiations with more than 100 companies. Resona Digital Hub hopes to tap the needs of small and midsize rms hoping to improve their digital systems.
“We want to provide a wide range of companies with payment methods that we have developed in our banking operations by combining them with cashless and other IT technologies,” Resona Digital Hub President Naoki Ito said.
Driving some of these moves are the growing concerns that a lack of IT talent could be a barrier to the nation’s economic growth.
e Economy, Trade and Industry Ministry said Japan will have a shortage of 430,000 IT specialists in 2025. According to the Information-technology Promotion Agency, 76% of Japanese companies report insu cient numbers of IT workers.
In the securities industry, however, SBI Holdings Inc., Japan’s biggest online brokerage, is already providing banking systems, apps and other solutions to regional banks.
Competition in digitization has been ramping up and the nancial community seems eager to nd value in this new growth area. (Sept. 9)