Works Applications Announces Bank of Fukuoka as Financial Management Solution Customer

Works Applications Co., Ltd. (Headquarters: Minato-ku, Tokyo; Executive Director and Chief Executive Officer: Masayuki Makino; hereinafter "WAP"), today announced that the Bank of Fukuoka, Ltd. has purchased its Financial Management Suite; Assets Management and Business Management.
 

Aiming to Improve Business Operation and Achieve Consolidated Group Management

20160316.pngThe Bank of Fukuoka is the successor of the 17th National Bank, which was founded in 1877 as the first bank in Japan’s Kyushu region. The current Bank of Fukuoka is the core bank of the Fukuoka Financial Group, which was established in 2007 through merging of The Bank of Fukuoka, Kumamoto Family Bank (currently Kumamoto Bank), and Shinwa Bank. It is the top* regional bank with more than 7,000 employees. Headquartered in Fukuoka Prefecture, the bank covers the entire Kyushu region and offers sophisticated and diverse financial services. However, since each bank was operating with separate systems, consolidated management through one database could not be performed and take advantage of its merger. Not only that, meeting new compliance requirement from newly established social security number system, “My Number” was looking challenging. The bank needed to systemize operations such as rental real-estate management and compensation reward management.

(*)Based on amount of assets owned amongst regional banks on fiscal year ending on March 31st, 2014.
 

Key Decision Factors

Meeting the following two criteria was essential in the bank’s system selection.

  1. Easy Centralization of Operations to Headquarters

    The bank selected its new Financial Management system with an eye toward centralizing operations by shifting to shared services in the future. WAP’s system suite met the criteria by allowing the bank to take on its first step to centralize some of the operations to headquarters, therefore allowing each branch to focus more on sales operations. Creation of payment records and management of rental real estate are among some of those operations.
     

  2. Cost Effectiveness to Meet Clients’ Frequent Business Needs
    WAP offers a unique business model where any implementation and future configuration costs are covered within annual maintenance fee. Bank of Fukuoka has been using WAP’s HR system suites for over 13 years, experiencing first hand WAP’s high quality customer support. For instance, WAP offered free upgrades for all its clients when Japan announced the new social security number system, "My Number". The bank highly valued WAP’s dedicated service to this point and had made the decision to implement WAP’s Financial Management system suite.

Many of WAP’s clients share the same need as the Bank of Fukuoka to shift to shared services and achieve consolidated group management. WAP strives to continue to support such client needs.
 

Media Contact:

Works Applications
Chuzen Kin, Kyoko Kado
Email: publicrelations@worksap.com