Joyo Bank, Ltd. (President: Akino Tetsuya/hereafter, Joyo Bank) and Hitachi, Ltd. (Executive Officer, President and CEO: Kojima Keiji, hereafter, Hitachi) have recently begun efforts to improve financial and DX literacy through industry-academia collaboration at Hitachi Technical College (hereafter, Nichi-Sen School) *1.
In this initiative, Hitachi has set up an unmanned communication store “CO-URIBA (CO-URIBA)” *2, which combines signage, sensor functions, biometrics, etc. in a small sales floor, and Joyo Bank will provide financial education content projected onto the signage. Students can experience empty-hand*3 payments using face recognition and at the same time learn about finance through educational content displayed on signage. Hitachi teaches students how to operate CO-URIBA, and provides a place for students to learn and experience DX by proactively managing CO-URIBA themselves. In addition, Joyo Bank holds financial classes at Nichi-Sen School to provide opportunities for students to deepen their financial knowledge. Furthermore, through interaction between Joyo Bank and Hitachi, students have the opportunity to acquire social communication and business skills. This enhances the sense of unity in the local community, thereby contributing to the retention of human resources in the region and the sustainable development of the regional economy.
Furthermore, Nichi-Sen School is the first user in introducing financial/DX literacy education using CO-URIBA, and Joyo Bank and Hitachi will expand to other educational institutions in Ibaraki prefecture from the second half of 2024 onwards.

*The Hitachi Technical College is a Hitachi educational institution (corporate school) that fosters manufacturing human resources. *2CO-URIBA: Hitachi's small unmanned store service provided with the concept of “I want to make use of a small space and create a sales floor together.” Also, by using CO-URIBA's “thank you coupons,” it is also possible to send each other a feeling of gratitude with coupons from a smartphone application, such as from schools/companies to students and employees. *The 3-person sensor and weight sensor recognize what is picked up, and purchases and payments are completed using only face recognition using signage installed at the store (no need to present a card or smartphone).

backgrounds

In recent years, due to the increasing complexity of the economy and the spread of cashless payments, etc., there is a need to improve financial literacy in order to make appropriate financial decisions. According to the Financial Services Agency's survey*3, improving financial literacy is an issue, especially among young people aged 18 to 29.
At Nichi-Sen School, financial education has been examined for students who will become working adults in a few years so that they can acquire financial literacy, such as the necessity of asset formation in preparation for the future. We also wanted to implement initiatives in collaboration with other companies in order to enhance information literacy and provide opportunities for innovation through DX learning and experience.
Also, until now, Joyo Bank has been implementing financial education for young people in the form of lectures, and they have been considering places for education involving practice.
Therefore, this time, Joyo Bank, Nichi-Sen School, and Hitachi are collaborating to implement financial literacy education using digital technology in order to acquire and establish practical knowledge and skills for young people.

*3 Financial Literacy Survey 2022 Survey Results

Initiatives to improve financial and DX literacy

(1) Effortless payments using face recognition, improving students' financial literacy through interactive financial education
Hitachi's unmanned communication store CO-URIBA has been set up at Nichi-Sen School, and students actually use empty-handed payments using face recognition. The usage fee will be withdrawn through a Joyo Bank Visa debit card. In addition, Joyo Bank will contribute to improving the financial literacy of the younger generation by providing lectures and financial education using CO-URIBA signage to students. Furthermore, by utilizing CO-URIBA's questionnaire function to confirm the level of understanding of financial knowledge and requests for financial education, etc., interactive and effective financial education between Joyo Bank and students is possible.

(2) DX experience/learning through student-centered management
The operation of CO-URIBA will be carried out proactively by students from Nichi-ken School. Hitachi aims to create diverse value by providing CO-URIBA management education to students at Nichiba-based schools and supporting devising management methods such as examining shelf allocations.
Furthermore, by providing a place for DX experience and learning through a series of flows in the use of CO-URIBA, such as empty-handed payment using CO-URIBA face recognition, automatic recognition of products obtained using sensor technology, and product information display on signage, etc., we aim to strengthen students' information literacy and improve problem solving ability and creativity.

Future Initiatives

Joyo Bank and Hitachi will further promote industry-academia collaboration by expanding this initiative to other educational institutions in Ibaraki Prefecture after the second half of 2024. Furthermore, we will contribute to the growth and revitalization of regional economies by improving financial and DX literacy among young people in the region and promoting the formation of touchpoints with local communities and companies.

Joyo Bank's financial education initiatives

Joyo Bank has been working on uninterrupted financial education from elementary, middle, and high school students, university students to working adults and retirees so that everyone in the community can live a fulfilling life with peace of mind. In January 2024, personnel specializing in financial education were assigned, and efforts for financial education were further strengthened. In addition, we provide opportunities to study in the field of finance and economics, such as holding asset formation seminars for corporate personnel and general affairs personnel at 7 locations in Ibaraki prefecture so that they can be useful for improving financial literacy for local residents. Going forward, the Bank will continue to promote financial education initiatives as social contribution activities that can be made by utilizing the wide range of practical knowledge and know-how related to finance that it has cultivated through the provision of comprehensive financial services.

About Hitachi, Ltd.

Hitachi is promoting social innovation projects that realize a sustainable society through data and technology. We solve customer and social issues through Lumada solutions that utilize IT, OT (control/operation technology), and products under a three-sector business system: “digital systems & services” that support customer DX; “green energy & mobility” that contributes to the realization of a decarbonized society through energy and railways; and “Connected Industries,” which digitally connects products in a wide range of industries and provides solutions . Driven by digital, green, and innovation, we aim for growth through co-creation with customers. Sales revenue for the three sectors for fiscal year 2023 (fiscal year ending 2024/3) was 8,564.3 billion yen, and as of the end of March 2024, there are 573 consolidated subsidiaries and approximately 270,000 employees worldwide.

Contact information

Hitachi, Ltd. Financial Systems Sales Management Division [Person in Charge: Chiba, Takashima]
1-6-1 Marunouchi, Chiyoda-ku, Tokyo 100-8220