Mizuho Financial Group is to open an innovation lab in Tokyo aimed to drive new innovations in the growing FinTech sector.

The lab will be located within the Fintech Centre of Tokyo Finolab (Finolab) – an area operated by the likes of Mitsubishi and Dentsu – with the central aim of establishing itself as a driver of the FinTech ecosystem.

Mizuho plan to collaborate with the operators of Finolab and other FinTech companies “to create an environment for cultivating open innovation and coming up with ideas for new financial services” that can transform the customer experience.