ZDF and Minna - both subsidiaries of Fukuoka Financial Group - worked together on the platform ahead of Minna's launch last year as Japan's first app-only lender.

Now ZDF, which developed the technology with Accenture, is looking to sell it to financial institutions, both at home and abroad, as well as to non-FS businesses looking to roll out banking services.

The firm says that its technology lets firms quickly build banking systems from scratch on the cloud. All services can be completed on a smartphone, making it easy to open accounts, make deposits, transfer money, and apply for loans. In addition, the system includes an analytics engine that allows the operator to visualise account processes such as deposits and withdrawals, interest accrual, and fees to better personalise offerings.

ZDF claims that the system architecture ensures scalability, fault tolerance, and flexibility by using a public cloud. The applications built on top can be flexibly developed due to a design that includes loosely coupled microservices and API architecture.

Kenichi Nagayoshi, president and CEO, ZDF and Minna Bank, says: "We are convinced that this full-cloud system is the solution to many of the challenges faced by companies seeking to enter the banking business. By sharing our successful experience with customers in a wide range of industries, we hope to contribute to the development of digital banking in Japan and abroad."

Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.