ZDF launches new cloud-based core banking system PlatoBlockchain Data Intelligence. Vertical Search. Ai.

ZDF launches new cloud-based core banking system

Zerobank Design Factory (ZDF), a subsidiary of Fukuoka Financial Group (FFG), is launching its new core banking system to the wider market.

ZDF launches new core banking system

Established in 2007, FFG is Japan’s largest regional financial group.

The fully-fledged core banking platform is based on the joint development by ZDF and Accenture for Minna Bank, Japan’s first digital bank and the first one to be fully developed from the ground up. Minna Bank is, too, a subsidiary of FFG.

The system includes loosely coupled microservices and API architecture and is delivered in a public cloud – also the first one in Japan.

ZDF will offer the system to domestic and overseas financial institutions, as well as to non-financial businesses seeking to introduce new banking services.

Minna Bank

Minna Bank is the first user of the system

“All services can be completed on a smartphone through an intuitive user interface that makes opening accounts, making deposits, transferring money, and applying for loans effortless,” the vendor claims.

“In addition, the system includes an analytics engine that allows the operator to visualise account processes such as deposits and withdrawals, interest accrual, and fees to better personalise offerings for each customer.”

Kenichi Nagayoshi, president and CEO, ZDF and Minna Bank, says in the first year since the bank’s launch in May 2021, its app has reached one million downloads and 400,000 opened accounts.

“We are convinced that this full-cloud system is the solution to many of the challenges faced by companies seeking to enter the banking business,” Nagayoshi says.

“By sharing our successful experience with customers in a wide range of industries, we hope to contribute to the development of digital banking in Japan and abroad.”

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  • Source: https://www.fintechfutures.com/2022/11/zdf-launches-new-cloud-based-core-banking-system/

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