Sumitomo Mitsui Financial Group (SMFG) is launching a new agentic AI venture headquartered in Singapore, appointing Ahmed Mazhari as CEO.
The company will focus on building and deploying enterprise-grade AI agents that can learn, reason, and act autonomously in complex business environments.
The venture is part of SMFG’s dual-engine strategy to accelerate its transformation into an AI-driven financial institution.
One engine focuses on internal change within SMBC Group, while the other scales new AI capabilities externally through commercial offerings.
SMFG has committed JPY 800 billion to digital transformation efforts, with JPY 50 billion specifically allocated for generative AI initiatives.
The new company will first implement its solutions within SMBC Group, acting as “customer zero,” before expanding into the broader enterprise market.
Alongside his role as CEO of the new venture, Mazhari has been appointed Executive Advisor for AI Transformation.
He will lead initiatives supported by the Group Management Committee, including upgrading digital infrastructure, developing internal AI capabilities, and integrating autonomous AI systems into SMBC Group’s core business.
This move builds on existing programmes like SMBC-GAI and AI-CEO, which have laid the foundation for AI adoption across the group.
SMFG’s long-term goal is to embed AI throughout its operations and offer these capabilities to corporate clients and the wider ecosystem.
Mazhari brings over 20 years of experience in technology and business leadership, having held senior roles at GE Capital, Genpact, and Microsoft Asia, where he helped scale AI delivery frameworks and regional operations.
Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik
