May 24, 2018
Mizuho Financial Group, Inc.
Blue Lab Co., Ltd.
[FinTech] Mizuho enters into a business partnership to commercialize an AI–based solution for automating data input
Mizuho Financial Group, Inc. (President & Group CEO: Tatsufumi Sakai) and Blue Lab, Co., Ltd. (President, CEO, & Representative Director: Daisuke Yamada) successfully conducted proof–of–concept testing on a solution for automating data input from hand–written documents and non–standard forms, using artificial intelligence (AI), optical character recognition (OCR), and robotic process automation (RPA) technology. This solution, which we dubbed the "AOR" Solution due to the combination of technology used, was developed in collaboration with Sigmaxyz Inc. (Chairman and President: Hideki Kurashige) and Ghelia Co., Ltd. (President: Ryo Shimizu).
In addition to utilizing the AOR Solution to substantially improve operational efficiency within Mizuho, we are seeking to commercialize it. We will establish a new company as a provider of the AOR Solution to other financial institutions and companies from other industries.
The Mizuho FinTech Fund, in which Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) has a capital stake, has decided to invest in Ghelia with the objective of strengthening collaboration with them, as they are a partner in the joint development of the AOR Solution.
1: The AOR Solution
For hand-written documents and non-standard forms that require manual data-entry, the AOR Solution automates and streamlines overall operations through the highly accurate digitization of character information using AI, OCR, and RPA technology. Through our proof-of-concept tests, we found that it was possible to reduce manual data-entry tasks by approximately 80%.
2: Applications within Mizuho
Based on the successful outcome of testing on potential applications conducted over several months from December 2017 to February 2018, we are planning to introduce the AOR Solution in operations at Mizuho Bank, a subsidiary of Mizuho Financial Group, and subsequently in similar operations at other group companies, with the aim of substantially improving productivity.
3: Commercialization of the AOR Solution
In terms of processing hand–written documents and non–standard forms, there is a significant need for automation and streamlining within a wide range of operations in financial institutions as well as companies from other industries.
For this reason, we want to not only introduce the AOR Solution within Mizuho, but also commercialize and offer the solution to other financial institutions and companies from other industries. Specifically, we are planning to establish a new company in which Mizuho, Blue Lab, Ghelia, and other partners are capital stakeholders.
Ghelia's strength lies in its deep learning technology and AI platform development. Mizuho conducted the AOR solution testing jointly with Ghelia. Going forward, we will work more closely with Ghelia in order to strengthen solutions using AI and other technology.
|Trade name||Ghelia Co., Ltd.|
|Location||Taito, Taito–ku, Tokyo, Japan|
|Date of establishment||June 2017|
|Scope of business||Develop and offer integrated AI solutions for business operations|