Mizuho announces partnership with Cognizant to trial blockchain tech

Announcements | February 22, 2016 By:

Mizuho Financial Group and Cognizant announced a strategic agreement to develop a blockchain solution for secure record-keeping of documents among Mizuho Financial Group companies around the world.

“We are pleased to be among the early adopters of blockchain technology in Japan to make our processes and workflows faster and more efficient. The global domain and technology expertise of Cognizant will complement our vision and reinforce our reputation as the most trusted financial services group. We are impressed with Cognizant’s blockchain-based solutions for financial services organizations, and their sharp focus on this rapidly evolving technology,” said Mizuho Financial Group CEO and deputy president Toshitsugu Okabe.

As part of the agreement, Cognizant will bring together its extensive financial services, consulting and digital technology expertise to design and develop a blockchain solution for Mizuho’s customers, counterparties, and group companies to exchange and sign sensitive documents in a secure and transparent manner, resulting in faster, more efficient processing and multi-party verification. This engagement will initially focus on New York and Tokyo, where most Mizuho group companies are based.

Mizuho Financial Group is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. Cognizant is a leading provider of information technology, consulting, and business process outsourcing services.