IBS Journal March 2016
Hitachi to provide cloud storage services for Mizuho Bank project
Hitachi is providing a private cloud service for Mizuho Bank, giving the latter a platform on which to implement its core banking systems. In using the cloud, says Hitachi, Mizuho Bank will be in a position to optimise costs and reduce workloads and better launch future products. As well as aiding the development and implemen- tation of the new core banking system, understood to be Temenos’ T24 platform, the private cloud will be used for the
launch of a new funds transfer system. Hitachi has installed its own servers
and storage facilities in Mizuho Bank’s data- centre, and will be performing a range of services from environment construction to operation management. The servic- es will be charged on a pay-per-use basis. Through this method, the vendor says, Miz- uho Bank can effectively scale their opera- tions without having to pay for and install new hardware or software, relying on the
outsourced Hitachi services instead. Mizuho Bank is one of the largest
financial companies in Japan by assets, holding around $1.64 trillion. It’s labelled as one of the three Japanese ‘megabanks’ and caters to individuals, businesses, corpora- tions and public sector entities. It has over 505 branches and is the only bank in the country to have a branch in every prefec- ture of Japan.
Alex Hamilton
Misys Bankfusion Essence live at CTT Correios de Portugal
A startup bank created by CTT Correios de Portugal, the Portuguese post office, is be- lieved to have gone live with Misys’ Bank- fusion Essence. The front-to-back office packaged solution, which includes the Fu- sionbanking Universal Banking core system and the digital front-end product from IND (bought by Misys in 2014), has been deliv- ered by its partner, Deloitte. The bank was expected to open for business in Q4 2015, but the official launch is yet to take place, it is understood. The
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group appointed banking veteran Luis Pereira to oversee the eventual launch. Por- tuguese media have speculated on what it will be called, with possibilities includ- ing CTT Bank, Banco de Correios and Ban- co CTT. The idea of a postal bank in Portugal has been in the pipeline for some time, even before the privatisation of the coun- try’s postal service in 2013. Official plans for the bank were unveiled in autumn 2014 by the CTT group. The group allocat-
© IBS Intelligence 2016
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ed around €20 million towards setting up costs, including brand development and technology. The CTT Group was first floated by
the Portuguese government in December 2013, as it was seeking to dispose of a 70 per cent stake in the company. The sale of the remaining shares was completed by September 2014. The state made a total of €909.2 million from the sale.
Alex Hamilton
news
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