Mizuho Financial Group Inc. said Wednesday it has entered into a strategic collaboration with tech giant Google LLC to accelerate the Japanese company's digital transformation.

Mizuho said in a statement it partnered with Google Cloud Japan G.K. to utilize Google's data analytics technology to generate real-time insights about clients' preferences and increase customer satisfaction.

The Japanese group, which has suffered repeated high-profile system failures at its key banking unit, also said it will tap Google's security engineering expertise and development processes to modernize its systems.

Mizuho has lagged in its digital transformation after it was forced to shift its focus to stabilizing its banking systems and implementing preventative measures against further issues after Mizuho Bank suffered a series of major system malfunctions since February last year.

According to the statement, the financial group also aims to change its corporate culture by working closely with the tech firm, saying it wants to adopt "Google Cloud's innovative approach to product development and problem-solving."

Mizuho Financial is hoping employees can take training sessions at Google Cloud or have them ask for advice, officials of the group said.

Google eventually aims to support the digital transformation of Mizuho's client companies, the officials said.

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