Sunday, 19 September 2021

Mizuho Bank expands transaction banking presence in Asia and offers solutions through digital transformation

5 min read

By The Asian Banker

Mizuho Bank increased customer engagement by leveraging digitalisation, innovation and its unique transaction banking business setup to serve clients in a coordinated fashion.

  • Mizuho Bank significantly expanded its transaction banking presence in Asia 
  • The bank optimised digital transformation to support customers’ business flows 

Singapore, 03 August 2021 –– Mizuho Bank was recognised as the Best International Transaction Bank in Asia Pacific at The Asian Banker Transaction Finance and Bankers’ Choice Awards Virtual Ceremony 2021. 

Mizuho Bank strengthened transaction banking capabilities through the implementation of unique business mandates

Mizuho Bank expanded its transaction banking business in Asia and demonstrated a growing presence in Thailand and Vietnam’s Mekong Delta region. It established local country desks, which are supported by the regional Asian offices in Hong Kong, Singapore and Tokyo. The bank continued to focus on customer engagement via digital platforms amid the pandemic.  

In this year’s assessment of Best Asian International Transaction Bank in Asia Pacific, Mizuho Bank emerged on top for its growing business franchise, innovative business solutions and digital support.  

Human Resources Capabilities: Mizuho Bank significantly expanded its transaction banking presence in Asia  

Mizuho Bank’s global transaction banking businesses’ integration across cash, trade and foreign exchange under one umbrella drives synergies to serve customers on sales, product, implementation, trade execution and service functions in a comprehensive and coordinated fashion. The setup of transaction banking head office in Tokyo, regional offices in global financial centres in Hong Kong and Singapore, and local country desks in key locations provide the bank a unique positioning to serve its clients in Asia Pacific with global expertise.

Achievement of cross-selling goals across cash and trade business in each location are ensured through the deployment of well-defined key performance indicators among the bank’s relationship managers. As of 2020, 73.5% of Mizuho Bank’s transaction banking revenue outside Japan came from Asia Pacific, indicating its major presence and dependence in the region. This share has been rising consistently from 70% in 2018 and 72% in 2019. 

Digital Strategy and Product and Service Capabilities: Digital transformation to support customers’ business flows

Mizuho Bank accelerated its wider digital transformation and enhanced customers’ remote connectivity with its transaction banking product team through the adoption of third-party technology providers and various in-house solutions. Since the start of the pandemic, the bank has launched digital collection solutions, electronic cross-border payments, digital export bills, and digital collection through point-of-sale machines, etc. to better support its clients. 

Given the restrictions on paper-based trade finance exchange during the pandemic, it launched a paperless digital solution for settlement of export transactions. The solution reduced overall turnaround time and cumbersome administrative processes for physical document submission and monitoring.

In areas where in-house solutions proved to be costly and time-consuming to meet customers’ requirements, the bank collaborated with suitable technology providers to speed up the digitalisation process. It launched several fintech arrangements in India that delivered state of the art digital receivable offerings to meet clients’ expectations within a short period of time. 

Miho Takahashi, Mizuho Bank's managing director and head of Asia Oceania for transaction banking, said, "While it will take time for the economy to return to where it was previously, there are still opportunities for businesses and banks to re-think and re-create the value that got diluted over the past year amid the pandemic. Mizuho understands what our customers and the market need, and we will continue to bring new digital solutions for our clients".

About Transaction Finance Awards

The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in the Asia Pacific. Recipients of the awards are honoured in a gala event to recognise their efforts in bringing superior products and services to customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit  http://www.asianbankerawards.com/transactionawards/index.php

About The Asian Banker 

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The global research company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing and Dubai, as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com.

For more information, please contact:

Mobasher Zein Kazmi

Head of Research 

Direct: (+61) 452 514 145  

Email: mkazmi@theasianbanker.com 



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