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IDB and NTT Data partner to promote open innovation and digital transformation

The Inter-American Development Bank (IDB) and NTT Data today announced they will work together on topics related to open innovation and digital transformation in Latin America and the Caribbean.

The multilateral development lender and the leading IT services provider signed a Memorandum of Understanding, under which they agreed to help Latin American and Caribbean organizations and entrepreneurs prepare for an increasingly digital future. The agreement was signed during the FOROMIC event in Barranquilla, Colombia.

The agreement, which builds upon the longstanding collaboration between the IDB and NTT Data on smart cities and blockchain, establishes a framework to promote open innovation and digital transformation through events, proofs of concept, and capacity building activities, among others. Moving forward, the collaboration will prioritize the creation and growth of open, collaborative, neutral and inclusive digital ecosystems that leverage technologies such as Blockchain by joining the multi-stakeholder global alliance LAC Chain.

“There are many opportunities for businesses, organizations, and people from different parts of the world to collaborate and learn from each other regarding the use of transformative digital technologies,” said Bernardo Guillamon, Manager of the IDB’s Office of Outreach and Partnerships. “Our partnership with NTT Data will help us provide Latin America and the Caribbean with key insights and best practices for digital transformation.”

NTT Data's Kazuhiro Nishihata stated: "By working together on this ambitious initiative with the IDB to promote the digital transformation of Latin America and the Caribbean, implementing disruptive and innovative processes, we aim to exponentially accelerate the region’s development, fostering change and inclusion."

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region. For more information, visit www.iadb.org.

About NTT DATA

NTT DATA is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 50 countries. Our emphasis is on long-term commitment, combining global reach with local intimacy to provide premier professional services varying from consulting and systems development to outsourcing. For more information, visit www.nttdata.com/.