A movement to combine technology with existing industries is occurring in a range of industries and companies, but what attracts much attention among them is fintech that combines finance with IT. The SBI Group, which was among the first to focus on fintech as a financial institution in Japan and has since been taking on various challenges, has established SBI FinTech Incubation that provides consulting services including the application of fintech in 2017 to realize innovation at financial institutions.
The "Fintech Platform" operated by SBI FinTech Incubation is a platform service that includes open API public infrastructure. Under the revised Banking Act that came into effect in June 2018, an obligation to make efforts for open API has been imposed on financial institutions centered on banks, and the "co-creation of value" through cross-industrial collaboration is required for financial institutions. Through the mechanism of the platform provided by SBI FinTech Incubation, financial institutions will be able to choose and readily use various kinds of fintech services and systems provided by fintech ventures in Japan and overseas, including the investees of the Group. The Group seeks to help both financial institutions and venture companies achieve value improvement through this technology.
