NRI and Mizuho Bank complete research addressing applications of AI
TOKYO, July 31, 2017 – Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, in collaboration with Mizuho Bank, Ltd., today announced the completion of a proof-of-concept (PoC) project developed to examine the applications of artificial intelligence (AI) solutions for derivative contract operation.
Mizuho executives made the improvement of the operational efficiency of derivative contract procedures a priority and approached NRI to develop a test in which the bank could examine how AI solutions could address this need. Traditionally, the standard derivative contract procedure at Mizuho included the exchange of print ISDA contracts with clients via FAX and PDF and the manual archiving of all the information. As each contract contains an enormous amount of information that is unique to each individual contract, registering the information to the system and referring to past contracts requires not only specialized knowledge but also a large amount of time-consuming manual input.
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