Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Business trends In bid for survival, Japan's local banks tap AI to find eager borrowers Seven lenders join hands in identifying the most robust clients Artificial intelligence could help banks spot promising borrowers in previously unused data.
Nikkei staff writers May 25, 2018 02:51 JST | Japan
TOKYO -- Regional banks struggling to earn under Japan's ultralow interest rates will jointly develop a data analysis system to help identify higher-yielding medium-risk corporate borrowers.
Seven lenders --
Senshu Ikeda Bank, Gunma Bank, San-in Godo Bank, Shikoku Bank, Chiba Kogyo Bank, Tsukuba Bank and Fukui Bank -- will create a financial technology research company as early as June. Each bank will take a stake of a little over 14% in the venture, which will have 100 million yen ($916,000) in initial capital.
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