Mizuho Financial Group has selected FIS’s Balance Sheet Manager solution to enhance its regulatory reporting capabilities and ensure timely compliance with Japan’s revised domestic accounting standards, which are aligning with International Financial Reporting Standard 9 (IFRS 9).

Mizuho, a global financial services institution, sought a comprehensive system capable of managing evolving regulatory requirements as the Accounting Standards Board of Japan (ASBJ) updates its standards to align with IFRS 9. This international standard requires credit losses on financial assets to be measured and recognized using an “expected credit loss” (ECL) framework. This shift necessitates forward-looking analysis to regularly assess credit losses across loan portfolios, a process that involves large datasets and complex scenario modeling.

FIS Balance Sheet Manager provides extensive modeling, scenario, and simulation capabilities to facilitate industry-best practice Asset Liability Management (ALM) processes. The solution is designed to support Mizuho in achieving regulatory compliance under the updated rules and offers adaptability to manage increasing business requirements. Its advanced automation features allow for seamless handling of multiple accounting-related processes after ECL calculation, without requiring additional customization.

Yutaro Aiuchi, Deputy General Manager in Credit Risk Management Department at Mizuho Financial Group, stated, “As we prepare for these significant accounting standard changes, we needed a solution that combines robust compliance capabilities with operational flexibility. FIS Balance Sheet Manager stood out for its ability to handle complex accounting needs with precision. New efficiencies through data integration and reporting will also help us optimize our risk profile and enhance our competitiveness. This implementation represents an important step in our ongoing commitment to regulatory reporting excellence.”

Andrés Choussy, President, Capital Markets at FIS, commented, “Financial institutions in Japan and across the globe face complex challenges especially during times of financial volatility. FIS’ technology takes away the burden of regulatory reporting from our clients and enables them to concentrate on their business goals. Our solutions help forward-looking institutions like Mizuho confidently put money to work while maintaining the compliance and clarity needed to grow.”