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Digital Transformation of Japanese Banks

May 31, 2021
Financial System and Bank Examination Department

With the rapid development of digital technology over the past few years, an increasing number of companies and governments around the world have taken steps toward "digital transformation (DX)." DX refers to drastically rebuilding management and business processes by adopting digital technology, which leads to improved management efficiency and the provision of higher value-added services. DX first took place in the non-financial sector, but it has also been expanding rapidly in the financial sector. Furthermore, DX is gradually accelerating due to increased needs for virtual services owing to the spread of COVID-19. This paper summarizes the trends and implications of Japanese banks' DX.


Bank of Japan Review is published by the Bank of Japan to explain recent economic and financial topics for a wide range of readers. This report, 2021-E-2, is a translation of the original Japanese version, 2021-J-2, published in March 2021.

If you have comments or questions, please contact the Financial System and Bank Examination Department (Tel:+81-3-3279-1111 ext.:6326).