Sumitomo Mitsui Banking Corporation - News, Articles & Research

SMBC taps into Toronto AI scene through Mars partnership

Sumitomo Mitsui Banking Corporation (SMBC) is looking to gain access to Toronto's AI expertise through a partnership with the Canadian city's Mars fintech cluster.

18 November 2019

News/ai

SMFG taps AI to automatically recommend software repairs

Sumitomo Mitsui Financial Group has joined forces with Fujitsu and the Japan Research Institute (JRI) to trial the use of AI to scan for bugs in coding and automatically recommend software repairs.

25 October 2019

News/ai

SMBC picks DefinedCrowd for AI training data

Sumitomo Mitsui Banking Corporation (SMBC) has turned to US outfit DefinedCrowd for AI training data, outsourcing work that was done manually within the Japanese bank.

27 September 2019

News

Swift publishes new API standard

Banking cooperative Swift has published a new API standard for the pre-authorisation of funds in its latest bid to bring more efficiency to open banking in Europe.

05 September 2019

Company announcement/regulation

SMBC to use Exiger AI tool for Emea AML compliance

Exiger, the leader in technology-enabled regulatory, financial crime, risk and compliance solutions, announced today its agreement with global financial institution Sumitomo Mitsui Banking Corporation Europe Ltd (SMBC) to leverage Exiger's artificial intelligence (AI)-powered KYC onboarding technology, DDIQ, to drive enhanced and sustainable regulatory compliance.

20 August 2019

News

Big banks create Utility Settlement Coin company

Some of the world's biggest financial services firms - including Barclays, Nasdaq and UBS - have pumped £50 million into a new venture building a Utility Settlement Coin (USC), an asset-backed digital cash instrument implemented on distributed ledger technology.

03 June 2019

Company announcement/wholesale

Sumitomo Mitsui Trust Bank (Japan) picks Acumennet to support treasury ops

Profile Software, an international financial services solutions provider, announced today the selection of Login’s Acumennet by Sumitomo Mitsui Trust Bank, (SuMiTB) in Japan to support their Treasury operations across six overseas offices in the United Kingdom, USA, China, Singapore, Hong Kong and Thailand.

02 May 2019

News/ai

SMBC to slash data prep times by 80% with Trifacta

Sumitomo Mitsui Bank has turned to Silicon Valley data wrangling company Trifacta to slash preparation times for the aggregation and analysis of mushrooming customer data troves.

19 February 2019

Company announcement/startups

Mitsui joins $100 million VC fund for Israeli startups

Israeli VC firm Magenta Venture Partners announced today a new venture capital fund targeting $100 million.

14 January 2019

News

NTT Data plans pan-Asian federated trade information platform based on blockchain

NTT Data has completed proof of concept phases including 14 Japanese logistics and financial companies, and interoperability with Singaporean and Thai national trade and customs platforms, as part of its plans to create an international trade data sharing platform.

22 October 2018

Company announcement

Sumitomo Mitsui Trust becomes first Japanse custodian on DTCC's Alert GC Direct

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade infrastructure for the global financial services industry, today announced that Sumitomo Mitsui Trust Bank (U.S.A.) Limited (SuMi TRUST USA) has become the first Japanese global custodian to go live on the ALERT Global Custodian Direct (GC Direct) workflow.

23 July 2018

News

Japan's banks plan 33,000 job cuts in digital downsizing

Japan's megabanks are planning to make huge, long-term cuts to their workforces as they increasingly turn to artificial intelligence (AI) and automation in a bid to streamline operations and cut costs.

31 October 2017