DMI Finance bags $400m equity funding led by MUFG
Also taking part in the round was existing investor Sumitomo Mitsui Trust Bank.
Japan
The latest fintech news, resources and expert analysis in Japan by the leading intelligence provider for the worldwide fintech community.
Mizuho and Line call off plans to launch mobile bank in Japan
Both firms say dissolution and liquidation proceedings of the mobile bank project will now go ahead.
Consumer finance firm JIVF taps OpenWay for credit products platform
This is the first OpenWay installation of its Way4 platform on Oracle Cloud in Southeast Asia.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
Bank of Japan to launch CBDC pilot programme in April
The pilot will test the technical feasibility of a CBDC and leverage the “skills and insights” of private industry.
Mizuho Bank in core banking tech overhaul with Oracle
Oracle’s solutions will support “critical” functions, including direct deposit accounts and liquidity management.
Zodia partners SBI DAH for Japan-based crypto custodian venture
The joint venture, SBI Zodia Custody, is owned 51% by SBI DAH and 49% by Zodia Custody.
Fujitsu and Mizuho Bank partner for ESG data management project
The new service will visualise CO2 emissions across supply chains and help customers move towards de-carbonisation.
Akulaku secures $200m from Japan’s Mitsubishi UFJ Financial Group
The funding will support Akulaku’s anticipated growth as it looks to provide banking services across Southeast Asia.
Japan’s Smartpay launches open banking digital payments service
Smartpay claims it is the first digital consumer finance firm to utilise Japan’s open banking system.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
ZDF launches new cloud-based core banking system
Minna Bank, Japan’s first digital bank, is the first user of the new core system developed by ZDF and Accenture.
US Bancorp gets US regulatory approval for MUFG Union Bank acquisition
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
Japan’s SMBC Group to launch Jenius Bank in the US
Jenius Bank will initially offer personal loans before expanding with savings and checking products.
Japan’s Iyo Bank picks DTCC to automate post-trade services
Iyo Bank has tapped DTCC to achieve “no touch” post-trade processing for equities and fixed income transactions.
Credit fintech Liquidity lands $775m to fuel growth
Apollo partner Joshua Black will also join Liquidity’s board of directors.
au Jibun Bank: a relationship for the long term
How au Jibun Bank aims to repay customer loyalty by constantly improving their banking experiences.
Mizuho partners Google Cloud to power digital transformation
MFG says it is working with Google Cloud to deliver on the evolving needs of its customers.
Banking Tech Awards 2021 Highly Commended: au Jibun Bank – Best UX/CX in Finance Initiative
The importance of supporting investors along their journey and how au Jibun Bank does that.
Resignations and regulatory orders at Mizuho in wake of IT failures
President and group CEO Tatsufumi Sakai and senior executive officer Satoshi Ishii will step down from their roles.
Ex-Singlife execs to launch new Japanese paytech Purasu Money
Purasu to launch under umbrella of new venture SJ Mobile Labs.
PayPal acquires Japanese BNPL unicorn Paidy in $2.7bn deal
PayPal sees the deal as a way to accelerate business in Japan.
DWG expands into Singapore with remittance app acquisition
Fintech says Singapore will act as a springboard for expansion into North America and Europe.
Blockchain start-up XREX lands $17m funding to expand global footprint
The fintech’s global investors include major banks and venture capital firms.
Blockchain start-up Securitize lands $48m Series B round co-led by Morgan Stanley
US banking giant says “we believe in the growth and adoption of digital asset securities”.
Mizuho Bank president resigns after damaging system glitches
The Japanese bank experienced four outages in February this year.
Exclusive interview: Minna Bank – Japan’s new challenger bank
Its in-house and Accenture built core system will become a commercial offering in its own right.
LINE BK is “an elevation for the financial industry”, says CEO
“In today’s digital world, we are stepping towards a so-called singularity era.”
Au Jibun Bank investment app: changing hearts and minds
Au Jibun Bank aims to become the lifelong partner for every customer.
MUFG wealth management arm deploys InvestCloud in Japan
Vendor says the deal reflects its “substantial investment” in the country.
Fintech funding deals globally 29 March – 4 April 2021
Featuring HighRadius, Next Insurance, dLocal, Pipe Dream Technologies, and Paidy.
Digital challenger Minna Bank to launch in Japan by May
Minna will offer both consumer-facing and white labelled products.
Banking Tech Awards 2020 Winner: au Jibun Bank – Best Use of AI
Rebuilding consumer confidence in investments with an AI-driven market forecasting capability within a banking app.
Singapore’s iSTOX lands $50m from heavyweight Japanese backers
n the past decade, global private equity returned 13.2% on average.
Retailer Uniqlo cuts out middlemen with own payments integration
Uniqlo Pay has partnered with Sumitomo Mitsui Banking Corp.
Tokyo Stock Exchange CEO steps down after damaging systems failure
Koichiro Miyahara resigns as regulators continue to examine exchange’s closure.
Ogaki-Kyoritsu Bank selects Moneythor to revamp digital banking
The regional Japanese bank wants a hybrid approach for customers.
Japan’s SMBC invests $30m in OakNorth
The Japanese giant is also deploying OakNorth’s Credit Intelligence software.
Japan’s NEC buys Swiss core banking firm Avaloq in $2.2bn deal
Major investor Warburg Pincus currently owns 45% of Avaloq.
Tokyo Stock Exchange grinds to a halt in worst outage for 21 years
A hardware issue caused trading to cease for an entire day.
