TOKYO — Mizuho Financial Group Inc. will tie up with Google LLC to utilize the American tech giant’s know-how to analyze clients’ transaction data to improve the quality of customer service, a source familiar with the matter said Tuesday.
Mizuho also hopes to boost digitalization through personnel exchanges with Google, as the Japanese group has lagged in the field because of the need to deal with repeated system failures experienced at its key banking unit, the source said.
Through the cooperation deal, expected to be announced soon, Mizuho plans to send its employees to Google to gain practical knowledge from the major tech firm, the source said.
Mizuho is also planning to use Google’s technology to analyze customers’ transaction data to offer them financial services that best suit their needs.
Mizuho Bank, one of Japan’s megabanks, has experienced a series of system glitches since February last year, forcing the parent to focus its resources on stabilizing the bank’s system and taking preventative measures.