29 April 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Mizuho prepares for IoT banking

07 February 2017  |  9005 views  |  0 Email security

Mizuho has begun research and development on the creation of a platform for secure payments using IoT devices such as smart home kits, connected cars, and wearables.

The Japanese bank says it will work with Soracom, a Tokyo-based startup that provides a communication platform for developers of connected devices on the project. The aim is to use Soracom Air - a SIM card tailored for IoT devices that can be managed through an APIs dashboard - as the underlying technology to connect to the bank's internal systems.



The first project out of the lab will be a collaboration with cash registry and secure payment outfit Liquid Inc to enable bank transfers and balance enquiries at the Liquid Regi payment terminal via the use of fingerprint sensors.

"The results of this trial will enable us to identify issues and potential applications for IoT device-based services utilising banking APIs," says Mizuho.

Further cross-industry IoT collaborations will be managed out of the bank's recently opened Creation Studio, established within the Fintech Center of Tokyo Finolab.

A recent forecast from Gartner projects that  that 8.4 billion connected applictions will be in use worldwide in 2017, up 31% from 2016, and will reach 20.4 billion by 2020.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit dh.comFind out more

Top topics

Most viewed Most shared
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7760 views comments | 15 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7000 views comments | 17 tweets | 16 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6038 views comments | 22 tweets | 21 linkedin
Token raises $15.7 million as PSD2 approachesToken raises $15.7 million as PSD2 approac...
5946 views comments | 20 tweets | 20 linkedin
hands typing furiouslyMobile Technology, Its Importance, Present...
5710 views 0 | 2 tweets | 1 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job