• Published on 1 November 2017
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Nomura and Microsoft launch innovation group

Nomura Research Institute and Microsoft announced a new partnership with the aim of jumpstarting innovation in Japanese financial services.

The consortium established by Microsoft Japan, and Nomura Research Institute (NRI) initially will include 18 organizations and conduct proof of concept (PoC) studies on key trends in financial technology, the companies said in a joint statement today.

Microsoft Japan will act as the group's executive office and provide technological support including Microsoft Azure, a public cloud platform the consortium will use at the core of its operations.

Inevitable job losses

The group will work on issues such as the financial cloud, advanced data utilization, and the practical applications of financial technology. In addition, the grouping aims to improve financial institutions' operational efficiency and expand their operational scope through the sharing of information and applying technologies such as artificial intelligence, deep learning and blockchain.

Japanese banking giant Mizuho is drawing up plans to shed as much as one third of its workforce through the implementation of technology, according to media reports earlier this week.

Re-disseminated by The Asian Banker from Finews.Asia