SMBC to Launch Corporate Digital Service "Trunk" in May 2025
Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Card will launch "Trunk," a digital comprehensive financial service for corporate customers, in May 2025.
Background and Purpose
In recent years, with the advancement of digital technology, technological evolution, and entry of players from different industries, financial services in the corporate sector have seen increasing demand for services that combine banking accounts, payments, and financing in complex ways.
SMBC Group believes that supporting the revitalization of a wide range of businesses, including small and medium-sized enterprises that support the Japanese economy, is essential to promote Japan's regrowth. In an environment of constant change, SMBC Group has developed "Trunk", a completely new corporate service unlike any before, to provide financial services at a sufficient level to address the management challenges faced by small and medium-sized enterprises.
This service is designed not only to expand conventional functions in accounts and payments but also focuses on "convenience" and "value" that can be used quickly, anytime, remotely through smartphones and cutting-edge AI. Based on the expertise cultivated through the personal comprehensive financial service "Olive," SMBC Group will realize a new digital service with close cooperation between SMBC and SMCC.
This service is positioned as a core product of SMBC Group's corporate strategy to strongly support the business growth of small and medium-sized enterprises.
For the development of this service, Visa Japan, which collaborated on "stera" and "Olive," and Infcurion, with which SMBC Group has established a capital and business alliance in 2024, are also participating. SMBC Group will deepen collaboration with both companies for the development of new services in the future.
Features of the Service
(1) Digital Comprehensive Financial Service
This is a digital comprehensive financial service for corporate customers that provides money-related services beyond simple bank accounts and cards, centered on corporate internet accounts and business cards, including accounting efficiency, fund visibility, and cash flow support.
Account opening can be done via smartphone. It also allows seamless connection to peripheral services essential for accounting tasks, such as accounting SaaS. SMBC Group will sequentially provide secure services with even greater speed than before.
For business cards, at the initial launch of this service, business owners (corporate representatives) can apply for a Business Owners card simultaneously with account opening. Additionally, SMBC Group plans to issue new business cards with cutting-edge features such as connectivity to accounting SaaS in the next fiscal year.
(2) Product Features
① Groundbreaking Corporate Internet Account as a Megabank
Account opening is possible as early as the next business day following online application and web interview screening. In addition, internet banking transfer fees and other charges will be offered at industry-lowest levels, achieving a service that balances convenience and cost performance.
② Abundant Peripheral Services
Corporate customers can use "highly convenient services in abundance." For example, the service includes functions that automatically digitize and schedule transfers just by photographing received invoices, and card payment linkage features that allow payment due dates to be extended on the same app.
Furthermore, the "Flexible Finance" function enables unified management of multiple funding methods, and we plan to sequentially add various peripheral services such as dashboard functions and subsidy support functions.
③ New User Experience through AI Utilization
By connecting diverse functions such as bank accounts, payments, and financing with AI technology, we are creating an environment where users can intuitively and quickly utilize these services. Through collaboration with powerful partners such as Infcurion and Visa Japan, SMBC Group will expand new services after May.
Future Service Development
After service launch, SMBC Group plans to add functions sequentially. Details of available functions will be announced on the "Trunk" website at the time of service launch. At the time of service launch in May this year, the service will be limited to digital branches (non-face-to-face branches without counter service) and targeted at customers who do not currently have accounts with the bank. Other application conditions and details will also be announced on the website.
The Meaning Behind the Service Name "Trunk"
The name "Trunk" embodies two intentions:
First, by likening customers' businesses to a "long journey," we aim to be a "travel companion" that becomes familiar in customers' daily lives while allowing them to use the diverse functions inside "Trunk" anytime, anywhere.
Second, from the English meaning of "Trunk" as "tree trunk (body)," we wish to be an entity that firmly and continuously supports customers' businesses and their growth.
Like "Olive," we have thoroughly embraced mobile and digital-first principles, prioritizing customer experience in service design and development that can be used conveniently and affordably at any time. Through this service, we aim to build a core service that continues to grow together with our customers.
SMBC Group will continue to enhance service linkages across company boundaries and upgrade financial services to provide customers with even greater convenience.
