Financial Data Utilization Promotion Association
Held the opening ceremony of the data analysis competition “1st Financial Data Utilization Challenge”
~ Japan’s first ultra-practical program co-sponsored by MUFG, Mizuho FG, Sumitomo Mitsui Trust Bank, SBIHD, and SBI Shinsei Bank ~
Japan Digital Design Co., Ltd. (CEO: Yuko Kawai), affiliated with Mitsubishi UFJ Financial Group, Inc. (hereafter MUFG), Mizuho Dai-ichi Financial Technology Co., Ltd. (President: Takahiko Yasuhara), Sumitomo Mitsui Trust Bank, Limited (President: Kazuya Oyama), SBI Holdings, Inc. (Chairman and President: Yoshitaka Kitao), SBI Shinsei Bank, Ltd. (President: Katsuya Kawashima), we are pleased to announce that the data analysis competition “1st Financial Data Utilization Challenge” will start on January 20, 2023, and the opening ceremony was held.
[About the Financial Data Utilization Challenge]
This competition is the first data analysis competition sponsored by the Association with the aim of communicating the attractiveness of the financial industry, leading to the development of the financial industry, and fostering and discovering human resources both inside and outside the financial industry.
It is characterized by providing data close to practical experience at financial institutions and setting issues that are of practical and social significance.
The first meeting is held with the theme of “building a delinquency prediction model for the purpose of deterring people who are delinquent in housing loans.” As of Friday, January 20, about 1,000 people, from students to working adults, have participated.
At the opening ceremony held on January 20 (Friday), Mr. Takuya Hirai of the Liberal Democratic Party, the first Digital Minister, also received the following message of support.
Takuya Hirai Director of the Liberal Democratic Party Digital Society Promotion Headquarters First Digital Minister
“In terms of data utilization, I think the biggest expectations are for data related to personal data, followed by financial data. Financial data can be used to change behavior by connecting various data. This is an epoch-making initiative as it is the first data competition across the financial industry in Japan.The effective use of data not only by banks but also by startups across the financial industry is exactly what the times demand. The effective use of financial data is directly linked to the growth potential and competitiveness of a nation as it promotes a digital society.In addition, the Kishida Cabinet’s Digital Garden City Nation Initiative is promoting regional banks to become more rural. I think that the phase will change dramatically once you enter the core of DX.Since it is a field with high expectations, I sincerely hope that we will be able to imagine new industries and new values through the effective use of data together with everyone. increase.”
Organizer: Financial Data Utilization Promotion Association
Co-organizers: MUFG (Japan Digital Design), Mizuho FG, Sumitomo Mitsui Trust Bank, SBIHD, SBI Shinsei Bank
Period: January 20, 2023 (Friday) – March 5, 2023 (Sunday)
Prize money: 1st place: 300,000 yen, 2nd to 3rd places: 100,000 yen, 4th to 10th places: 50,000 yen + trophy (each team), etc.
Eligibility: Those who have agreed to the competition participation rules and special terms
Challenge: Using attributes, deposits and withdrawals, ATM usage data, etc., to build a delinquency prediction model for the purpose of deterring people who are delinquent in mortgage loans
Please apply for participation from the SIGNATE competition page. “1st Financial Data Utilization Challenge – Data Science Competition” https://signate.jp/competitions/841
Secretariat: Financial Data Utilization Promotion Association Chairperson: Japan Digital Design Co., Ltd.
Acting Chairman: Mizuho Dai-ichi Financial Technology Co., Ltd. PMO: MILIZE Co., Ltd., Nissay Information Technology Co., Ltd. Management planning: Sumitomo Mitsui Trust Bank, Limited
Platform: SIGNATE Inc.
Analysis environment: Databricks Japan Co., Ltd., MILIZE Co., Ltd. Sponsored by: Digital Agency
Media Partners: Nikkei FinTech, Weekly Kinzai Jijo, TECH PLAY, GoodWay Cooperating organizations: Second Regional Banks Association SARBLAB, Shinkin Central Bank, Japan Financial Services Association, University of Tsukuba Artificial Intelligence Science Center
Advisor: Yukihiko Okada, Associate Professor, Department of Social Engineering, University of Tsukuba
University of Tsukuba Artificial Intelligence Science Center, Service Engineering Director Mito Shinkin Bank, Director
About Financial Data Utilization Promotion Association
Amidst the rapid progress of digitalization in the financial industry, the Association aims to contribute to the development of the industry and companies and to the improvement of individual skills. Therefore, financial institutions and AI startups gathered and launched. Mission
“Let’s update the possibilities of people and organizations with financial data” vision
for personal success
Developing data utilization standards for financial institutions Communicating the attractiveness of the financial industry
(1) Creation of “Standardization of Financial Data Utilization” for the purpose of promoting the utilization of AI and data by financial institutions
(2) Exchange of information and collaboration with related
organizations within the financial industry
(3) Holding and operating a data analysis competition that conveys the appeal of financial data
Name: Financial Data Utilization Promotion Association
Representative Director: Takuro Okada
Date of establishment: April 25, 2022
Address: FINOLAB, 4F Otemachi Building, 1-6-1 Otemachi, Chiyoda-ku, Tokyo 100-0004
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