banking
The Financial Services Agency (FSA) has issued a business improvement order to AEON Bank pursuant to Article 26, Paragraph 1 of the Banking Act. I. Content of the Business Improvement Order 1. The Bank shall implement the following measures to foster a sound risk culture that emphasizes anti-money laundering and
securities
MUFG Bank will acquire 100% of shares of the following overseas securities subsidiaries: MUFG Securities EMEA, MUFG Securities Asia, and MUFG Securities (Canada), currently owned by MUSHD, making them direct subsidiaries of MUFG Bank. The reorganization is scheduled for July 1, 2025, subject to the completion of necessary procedures, including
india
Sumitomo Mitsui Financial Group (SMFG) has made a significant capital investment of ₹3,000 crore in SMFG India Credit Corporation (SMICC) through a rights issue, demonstrating its strategic commitment to expanding its Indian operations. Of this investment, ₹300 crore has been allocated to its wholly-owned subsidiary, SMFG India Home Finance.
banking
Gojo & Company, on a path to become Japan's next FinTech unicorn, has expanded into Georgia with the acquisition of 16.8% stake in JSC Credo Bank, the country’s fifth-largest commercial bank. Credo transformed from a microfinance organization into a full-fledged bank after obtaining a banking license
banking
The Bank of Japan has published an annex to its "Financial System Report" focusing on the results of a cybersecurity self-assessment (CSSA) for regional financial institutions in Japan during fiscal year 2023. 1. Introduction & Background * Purpose of the Report: The Bank of Japan (BOJ) and the Financial
weekly
Welcome to the ninety-first edition of the Japan FinTech Observer. The Federal Reserve and Bank of Japan meetings dominated this week. With the former a little more hawkish, and the latter a little more dovish than expected, the Japanese Yen has found itself close to the 160 JPY/USD territory
banking
Among the many reasons that Japan Inc. is slow reacting to change is the broadly established practice of outsourcing system development. This might either be done directly with an Systems Integrator (IBM, Accenture, NTT Data, Fujitsu, etc.) or via a wholly owned systems subsidiary, which in turn might engage a
banking
In October 2023, Yamaguchi Financial Group (YMfg) decided to adopt the nCino Bank Operating System to integrate the entire process for mortgages, from application to approval and contracting. This platform will now launch on Monday, December 23, 2024.
korea
SBI Savings Bank stands out as a leader in fulfilling the original mission of savings banks: revitalizing low-income finance. Its commitment is evident across numerous initiatives designed to support financial inclusion and consumer well-being. A key area of focus is easing the interest rate burden on ordinary people through accessible
japan
Yoii has established Japan's first Revenue-Based Financing (RBF) fund with participation from Mitsubishi UFJ Trust & Banking and others. Through this fund, Yoii will continue to support the growth of startups and small and medium-sized businesses (SMBs) that are taking on new challenges. Background of the establishment of
banking
In the "2024 Corporate Main Bank Survey", GMO Aozora Net Bank topped the list for increase in main bank corporate customers (for companies with 500 or more clients). While GMO Aozora Net Bank was previously not included in the analysis due to this threshold, in 2024 its customer
banking
South Korean cybersecurity firm RaonSecure has won a contract worth 3.57 billion won (approximately $2.7 million USD) with Japan’s Sumishin SBI Net Bank to provide its biometric authentication solution, TouchEn OnePass. The deal marks a significant expansion of RaonSecure’s presence in Japan, following the company’s