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Cybernetica and Sumitomo Mitsui Trust Bank Limited are developing a next-generation data management platform

Sumitomo Mitsui Trust Bank Limited (SMTB) in Japan is working with Cybernetica to create an innovative information bank solution that will connect service providers from various sectors from financial and e-health services to local governments. It’s a groundbreaking approach to digital services that incorporates interoperability, while giving control over data usage directly to the individual owning the data.

Cybernetica has worked together with SMTB and NEC, who are the Japanese development partners, since 2018 and this is the third proof of concept to research the application and potential of the UXP data exchange platform for SMTB. In this latest part of the collaboration Cybernetica has focused on the scalability of the platform as well as adding a new consent management layer.

Oliver Väärtnõu, the CEO of Cybernetica, said the company is pleased with the way the collaboration with SMTB has progressed. “We’re happy to have reached the third pilot in this series. In this step we showed the live potential of the UXP data exchange platform, and created a new groundbreaking and market-specific consent management system. Together this will form the basis for the full extent of the live service,” explained Väärtnõu.

SMTB is the largest trust bank in Asia-Pacific region and is well known as a principal provider of Japanese equity products for corporate and governmental pension funds. The platform is expected to go live in the near future with Cybernetica providing the technology as well as support and maintenance.

Entities currently connected to SMTB’s data exchange platform include, in Japanese phonetic order:
Aioi Nissay Dowa Insurance Co., Ltd.
EVERING Co.
Eltes Co. Ltd.,
JAPAN POST INSURANCE Co.,Ltd.
xID Inc.
SUMITOMO LIFE INSURANCE COMPANY
Central Sports CO., Ltd.
Sustainable Community Center Japan Specified Nonprofit Corporation
NEC Corporation
Higashi Hiroshima City
Mizuno Corporation