Shizuoka Bank Co., Ltd. (Representative Director and President: Minoru Yagi, hereinafter referred to as Shizuoka Bank) and Hitachi, Ltd. (Executive Officer, President and CEO: Keiji Kojima, hereinafter referred to as Hitachi) have completed the technical and effectiveness verification for the development of the accounting system (hereinafter referred to as the system) which operates on the public cloud, and have started the system construction.
In the system, Shizuoka Bank and Hitachi plan to operate the jointly developed open accounting system on Amazon Web Services (hereinafter referred to as AWS) by mid-2027. As a result, Shizuoka Bank will promote cloud-first, and further enhance the provision of high-value-added financial services and strengthen business continuity, and contribute to achieving a decarbonized society through power consumption reduction.
Moreover, Hitachi will apply this system to the open accounting systems such as the open accounting system package "OpenStage" developed by Hitachi, and expand to other financial institutions, contributing to the promotion of digital transformation (DX) in financial institutions.
Background
In recent years, financial institutions need to respond flexibly and quickly to the diversifying and sophisticated end-user values and the rapid changes in the environment. Moreover, they are also required to consider the environment such as reducing resource and energy consumption in business activities.
Against this background, Shizuoka Bank has started initiatives towards "cloud-first", which prioritizes the implementation of public cloud to all systems of the group from December 2023*1. This allows the construction of a financial infrastructure that can provide stable financial services with high added value while utilizing advanced technologies in the cloud and responding more quickly to end-user needs.
Hitachi has been working on providing value to customers and society through a long-term partnership with AWS and various achievements, including the migration of mission-critical systems for social infrastructure companies. In addition, recently, in March 2024, Hitachi signed a strategic collaboration agreement with AWS aimed at promoting system modernization and cloud migration for customer companies*2.
In this context, the technical verification and effectiveness verification for the public cloud implementation of the open accounting system, carried out by Shizuoka Bank, Hitachi, and AWS, have been completed, and the feasibility has been ensured. Therefore, the system construction has officially started.
Characteristics of this system
In this system, we will migrate the open accounting system that started operating in 2021 to AWS and operate it on the public cloud. The open accounting system jointly developed by Shizuoka Bank and Hitachi has been packaged as 'OpenStage' and is being introduced to other financial institutions. It adopts advanced technology that allows easy function expansion through openization and has achieved high development productivity, speed, compatibility with the latest digital technology, and flexibility by revamping the application structure. By migrating to AWS on this occasion, the following effects can be expected.
- See the table.
| Item | Effects |
|---|---|
| Operational resilience |
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| Security |
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| Carbon neutrality. |
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| Scalability and sustainability. |
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| Operational streamlining |
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| Cost |
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Future initiatives
Shizuoka Bank will continue to promote the implementation of a cloud-first approach in the future, in order to further promote the rapid provision of high-value products and services, as well as to aim for data center-less operations in the future, thereby reducing power consumption and contributing to the realization of a carbon-neutral society in the region.
Additionally, Hitachi aims to apply this initiative, including the 'OpenStage' open accounting system, to other financial institutions and support the digital transformation (DX) of financial institutions.
About Hitachi's open accounting package 'OpenStage'
"OpenStage" has revamped the system structure from three perspectives of
- Hitachi's open accounting system package "OpenStage"
Related website
- Shizuoka Bank Homepage
- Website related to Hitachi's financial solutions
About Shizuoka Bank
At Shizuoka Bank, we are working to enhance the functions as a comprehensive financial conglomerate while addressing the challenges faced by the region and customers, following the transition to a holding company system in October 2022.
Currently, within the Shizuoka Financial Group, the first midterm management plan, "Xover-Pioneering a New Era", is being implemented, with 'human capital management' as the core of the management strategy, and deploying the four basic strategies of 'Regional Co-creation', 'Group Business', 'Transformation', and 'Group Governance'. Through these activities, the group aims to provide a wide range of functions and services to the community, aiming for the coexistence of creating social value and enhancing corporate value.
About Hitachi
Hitachi is promoting the Social Innovation Business, which aims to realize a sustainable society through data and technology. Under the three-sector business structure of "Digital Systems & Services," which supports the digital transformation of customers, "Green Energy & Mobility," which contributes to the realization of a decarbonized society in the energy and railway industries, and "Connective Industries," which provides solutions that connect products in a wide range of industries with digital technology utilizing IT, OT (control and operation technology), and products, we solve customers' and society's challenges through Lumada solutions. We aim to grow through co-creation with customers driven by digital, green, and innovation. The sales revenue for the three sectors in the fiscal year 2023 (ending in March 2024) was 8.5643 trillion yen, and as of the end of March 2024, the consolidated subsidiaries were 573 companies, with approximately 270,000 employees worldwide.
- Hitachi's website
- About Lumada
Contact
Hitachi, Ltd. Financial Systems Business Headquarters [Contact: Chiba, Takashima]
1-6-1 Marunouchi, Chiyoda-ku, Tokyo 100-8220
- Financial Solutions Inquiry Form
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