Published in Tokyo FinTech·4 hours agoPersefoni, SMBC, and IBM Japan to address decarbonizationPersefoni, Sumitomo Mitsui Banking Corporation (SMBC), and IBM Japan have entered into a strategic collaboration that will provide Persefoni’s Climate Management and Accounting Platform to high profile companies throughout Japan. SMBC also announced that it will deploy Persefoni for its own operations, a first for a bank in Japan. Persefoni…Japan3 min read
Published in Tokyo FinTech·1 day agoSoFi launches first-of-its-kind web3 ETFWith all the buzz around web3 and the metaverse, it was only a question of time until the investment management community would pick up that theme and launch products. In fact, given how early we are in the development of these domains, and how many different opinions and definitions exist…Innovation3 min read
Published in Tokyo FinTech·2 days agoAnatomy of the worst quarter in Softbank historyOn August 8, 2022, Softbank reported the worst quarterly result in its history, seeing the April to June quarter clock in at a JPY 3.2trn (USD 24.5bn) loss. If one is positioned long during one of the worst six months stock market performances in history, that is what one gets…Japan5 min read
Published in Tokyo FinTech·5 days agoBank of Thailand scopes CBDC PilotThe Bank of Thailand (BOT) has been among the first central banks to recognize the importance of CBDC as a novel financial infrastructure, and has previously conducted Wholesale CBDC projects and Proof-of- Concept Retail CBDC testing with corporates. The former include Project Inthanon and Project Inthanon-LionRock, which was conducted in…Thailand4 min read
Published in Tokyo FinTech·Jul 30Softbank & Z Holdings re-organize PayPay ownership structureSoftbank and Z Holdings announced last week that PayPay, Japan’s most successful payment service, will become a consolidated subsidiary for both entities. …Japan3 min read
Published in Tokyo FinTech·Jul 22A slow start for Japan’s Financial Service Intermediary LicenseJapan’s revised “Act on Provision of Financial Services” came into effect in November 2021, and with it a new, cross-sector Financial Service Intermediary Business license was introduced. …Japan4 min read
Published in Tokyo FinTech·Jul 20Five Pillars of Korea’s Financial Regulatory ReformThe FSC launched a financial regulatory reform committee, composed of 17 private sector participants with expertise in economics, finance, digital, law, and media sectors, to push forward financial regulatory reform initiatives through a private-public cooperation. In his opening remarks at the kick-off meeting for the committee on July 19, FSC…Korea3 min read
Published in Tokyo FinTech·Jul 8MUFG exits Hong Kong-based Dah Sing Financial HoldingsMUFG Bank today announced that it has sold nearly all its shares (31,637,935 shares) in Dah Sing Financial Holdings Limited (Dah Sing), a Hong Kong-based financial group, with the remainder of its Dah Sing shares (319,575 shares) to be sold on the stock market in the fiscal year ending March…Japan2 min read
Published in Tokyo FinTech·Jul 7Tokyo ranks 20th in Digital Cities IndexTokyo ranks 20th in The Economist and NEC Digital Cities Index 2022, putting it 5th in Asia behind Beijing (3rd), Seoul (4th, tied with London), Singapore (8th) and Hong Kong (17th).Japan2 min read
Published in Tokyo FinTech·Jun 17Tokio Marine partners with Shift Technology for fraud detection in fire insuranceTokio Marine & Nichido Fire Insurance has announced a collaboration with the French InsurTech startup Shift Technology to deploy an AI-based mechanism for the detection of fraudulent claims in fire insurance. The algorithm, which will take external data such as weather information into account, will be used in claims processes…Japan2 min read
