Month: March 2025

[Press Release] The Final Winners announced for FinTech startup pitch contest FINOPITCH 2025

TOPICS

[Press Release] The Final Winners announced for FinTech startup pitch contest FINOPITCH 2025

TOKYO, Mar. 7, 2025 – FINOLAB Inc. – announces the final winners for FINOPITCH 2025, international FinTech startup contest. The judge panel selected the winners based on the presentation by the finalists.
Event Site https://4f-otmcbldg.tokyo/

The final winners are listed:

FINOPITCH 2025 Grand Prize
INTERNATIONAL: Blade Labs「ESG Islamic Finance Platform」: https://bladelabs.io/
Japan: Noahlogy Co., Ltd「AI-native PLM for shipping」: https://noahlogy.com

Audience Award
INTERNATIONAL: Fly Fairly「Fly Fairly – Fly Now Pay Later」: https://www.flyfairly.com/
Japan: BillPay Inc.「BillPay」: https://billpay.co.jp/

Supporters Award
MITSUBISHI ESTATE Award: International Payments Identity (iPiD) Pte Ltd「Global bank account validation」: https://ipid.tech/
DENTSUSOKEN Award: tayori inc「tayorie」: https://tayorie.jp/
Seven Bank Award: Recept K.K.「proovy」: https://proovy.jp
Mastercard Award: INSTO「INSTO Tap」: https://ins.to/
JETRO Award: GarageBank Corporation「cashari」: https://cashari.jp/
Honorary Mention: Vlightup Inc.「TRUSTAUTHY」: https://trustauthy.jp/

FINOPITCH 2025 FINALIST
<International>
ActuaViz Co., Ltd. (Taiwan)「ActuaWorks: Actuarial Intelligence Platform」: https://actuaviz.com/actuaworks/
Blade Labs (Singapore (HQ) + Qatar (Regional))「ESG Islamic Finance Platform」: https://bladelabs.io/
DepositPass (United Kingdom)「DepositPass」: https://depositpass.com/
Fly Fairly (Singapore)「Fly Fairly – Fly Now Pay Later」: https://www.flyfairly.com/
INSTO (USA)「INSTO Tap」: https://ins.to/
International Payments Identity (iPiD) Pte Ltd (Singapore)「Global bank account validation」: https://ipid.tech/
TradingValley Inc (USA/Taiwan)「WinWinGPT – Stock AI Assistant」: https://www.growin.tv/en/my/winwingpt
Verified AG (Switzerland)「Verified Network」: https://www.verified.network
WeavInsight PTE LTD (Singapore) 「WeavInsight 」: https://weavair.com/
WEB3 DIGITAL WALLET (France)「Talao / Altme」: https://talao.io
Wizpresso Limited (Hong Kong)「Wizpresso Diligence」: https://wizpresso.com/RegulatoryReporting/Diligence
<Japan>
BillPay 株式会社「BillPay」: https://billpay.co.jp/
株式会社 Egregium「ProPort」: https://www.egregium.jp/
ガレージバンク株式会社「cashari」: https://cashari.jp/
Noahlogy 株式会社「AI-native PLM for shipping」: https://noahlogy.com
株式会社 Recept「proovy」: https://proovy.jp
株式会社 tayori「tayorie」: https://tayorie.jp/
株式会社 Teliha「Prex」: https://www.prex0.com/
Trust 株式会社「Trust TLanP」: https://trust-partner.co.jp/TrustTLanP
ターングループ株式会社「Money Mentor」: https://turnmoneyapp.com/en/
Vlightup 株式会社「TRUSTAUTHY」: https://trustauthy.jp/

About FINOPITCH
FINOPITCH, organized during the event 4F ( https://4f-otmcbldg.tokyo/ ), is an international pitch contest presented in English, with judging criteria, 1) Impact on Financial Industry, 2) Innovative Business Model, 3) Growth Potential, 4) Global Reach.

Awards
Grand Prix: Decided by Judge Panel, FINOVATORS.
Supporter Prize: Decided by 4F Supporters.
Audience Prize: Decided by audience vote.

■About FINOLAB Inc.
Address: Otemachi 1-6-1, Chiyoda-ku Tokyo
Representative:CEO, Hiroshi Yamamoto
Founded: 2019-07-11
Capital: JPY 300 Million
Business Domain:Promoting FinTech initiatives of Members, including startups and corporates, and expand FinTech ecosystem in Japan.
Web: https://finolab.co.jp/

■About FINOLAB Community
The Fintech Center of Tokyo, FINOLAB is a membership community and an office space located in the heart of international financial district in Tokyo) to promote FinTech ecosystem. Launched in Feb. 2016 by Mitsubishi Estate and Dentsu Group as the first FinTech Center in Japan. Consists of 57 Startup Members, 8 Associations and 25 Corporate Members (As of Mar. 2025).
Web: https://finolab.tokyo/
YouTube: https://www.youtube.com/finolabchannel

■About FINOVATORS, General Incorporated Association
Non-profit organization, with a group of pro-bono experts(Layer, Investor, Consultant, Analyst, Engineer, Entrepreneur, Banker, Public Sector Specialist, etc.)for supporting startups. Driving health innovation ecosystem in Japan by activities based on global and future vision, not limited to any organization or business area. http://finovators.org/

[Press Release] FINAL RESULT ANNOUNCED FOR JAPAN FINANCIAL INNOVATION AWARD 2025

TOPICS

[Press Release] FINAL RESULT ANNOUNCED FOR JAPAN FINANCIAL INNOVATION AWARD 2025

～ GRAND PRIX AWARDED TO East Japan Railway Company & Rakuten Bank, Ltd. ～

FINOVATORS – have  announced Grand Prix and Category Excellence for the respective category for “Japan Financial Innovation Award 2025（JFIA 2025）” on Mar. 3 at “Future Frontier Fes by FINOLAB (4F).”

JFIA was inaugurated in the Year 2020 to promote innovative initiatives in financial area by adopting information technology and to share best practices in the industry, and expects to further expand open innovation beyond corporate groups and business sectors. JFIA2025 consists for 3 categories, including Startup, Financial Institution, and Collaboration. FINOLAB, the FinTech Center of Japan, administrated the evaluation process by extracting about 300 innovative initiatives from press releases during the year 2024.  Several category winners were selected by the group of professionals, FINOVATORS, based on the criteria of innovation, growth, and transformation and announced on Feb. 3. And after further evaluation, Grand Prix and Category Excellence for each category was announced during the 4F.

JFIA 2025 Grand Prix and Category Excellence： https://jfia.tokyo/
AwardCompanyInitiative (Press Release)Remarks
Grand PrixEast Japan Railway Company
Rakuten Bank, Ltd.		JRE BANK service to be launched in May.
https://www.jreast.co.jp/press/2024/20240409_ho02.pdf		Their collaboration enabled the entry of railway businesses into banking services with the use of BaaS, and they were highly evaluated for establishing new customer relationships through unique services.
Startup Category ExcellenceG.U.Group, Inc..JOC Token Achieves Japan’s First Simultaneous Listing on Six Global Exchanges
https://www.gu-group.com/news/joc-listing		In addition to improving the recognition of Japan-originated blockchain, the establishment of a framework by G.U. Group to promote future practical implementation of blockchain was highly evaluated.
Collaboration Category ExcellenceCredit Engine, Inc.PayPay Corporation Credit Engine Group to Become a Wholly Owned Subsidiary by PayPay, Inc.
https://creditengine.jp/news/2024/10/pr-ce202410		The deal was highly evaluated for demonstrating the potential for new developments leveraging the strengths of both companies. At the same time, it became a new exit model for startups.

※No Finanacial Institution Category Excellence was awareded this year.

JFIA 2025 Winners
CategoryCompanyInitiative (Some are Only in Japanese)
StartupSmartBank, Inc.Household Account Management Prepaid Card B/43 Launches New Feature to Prevent Overspending.
https://smartbank.co.jp/news/3dd25e0768374bac8f2340e07bae24c2/
Kasanare Inc.Through the Use of Kasanare, a Generative AI Product, Mitsubishi UFJ Trust and Banking Corporation has reduced Internal Inquiry Workload by 50% in its Financial Market Trading Operations.
https://prtimes.jp/main/html/rd/p/000000052.000114769.html
G.U.Group, Inc..JOC Token Achieves Japan’s First Simultaneous Listing on Six Global Exchanges
https://www.gu-group.com/news/joc-listing 
Financial InstitutionGMO Aozora Net Bank, Ltd.“Express Transfer Service” was launched to meet the needs of large volume transfers of several hundred per minute.
https://gmo-aozora.com/news/2024/20240219-01.html 
Sumitomo Life Insurance CompanyLaunch of “Vitality Welfare Benefits Type”.
https://www.sumitomolife.co.jp/about/newsrelease/pdf/2023/240325.pdf
Mitsui Sumitomo Insurance Company, LimitedIntroduced a guarantee scheme for fund transfer to handle digital payment of salaries.
https://www.ms-ins.com/news/fy2024/pdf/0813_2.pdf
Seven Bank, Ltd.Foreign nationals can now apply to open a Seven Bank account at ATMs!
https://contents.xj-storage.jp/xcontents/AS96633/d93ef9df/74b7/440c/b74f/62323653ce84/20241220123155770s.pdf
CollaborationEast Japan Railway Company
Rakuten Bank, Ltd.		JRE BANK service to be launched in May.
https://www.jreast.co.jp/press/2024/20240409_ho02.pdf
Infcurion, Inc.
Sumitomo Mitsui Card Co., Ltd.Sumitomo Mitsui Banking Corporation		Capital and Business Alliance between Sumitomo Mitsui Financial Group, Inc. and Infcurion Inc.
https://assets.ctfassets.net/tb7n53plo58o/43doAtfkHvfEwTK4nKCEHV/106bc17eaf8af67088b1c4c9c4e35e44/Infcurion_Release_SMBC_Group_and_Infcurion_Sign_Capital_and_Business_Alliance.pdf
Finatext Holdings Ltd.
Mitsubishi UFJ Asset Management Co., Ltd.		New Online Investment Fund Sales Service,  “mattoco+” was developed by Smartplus for Mitsubishi UFJ Asset Management Co., Ltd.
https://smartplus-sec.com/news/press/20241015/ 
Credit Engine, Inc.
PayPay Corporation		Credit Engine Group to Become a Wholly Owned Subsidiary by PayPay, Inc.
https://creditengine.jp/news/2024/10/pr-ce202410
KlimaDAO JAPAN Co., Ltd.
OPTAGE Inc.
Mizuho Financial Group, Inc.
PBADAO Co., Ltd.		KlimaDAO JAPAN launched Proof of Concept of blockchain-based carbon credit market “KlimaDAO JAPAN MARKET,”　with OPTAGE Inc. providing wallet and Mizuho Financial Group, Inc. providing project support.
https://prtimes.jp/main/html/rd/p/000000031.000107877.html

（In order of announced Order）

■About FINOLAB Inc.
Address：Otemachi 1-6-1, Chiyoda-ku Tokyo
Representative：CEO, Hiroshi Yamamoto
Founded：2019-07-11
Capital：JPY 300 Million 
Business Domain：Promoting FinTech initiatives of Members, including startups and corporates, and expand FinTech ecosystem in Japan. 
Web：https://finolab.co.jp/


■About FINOLAB Community 
The Fintech Center of Tokyo, FINOLAB is a membership community and an office space located in the heart of international financial district in Tokyo）to promote  FinTech ecosystem. Launched in Feb. 2016 by Mitsubishi Estate and Dentsu Group as the first FinTech Center in Japan. Consists of 57 Startup Members, 8 Associations and 25 Corporate Members (As of Mar. 2025). https://finolab.tokyo/

■About FINOVATORS, General Incorporated Association
Non-profit organization, with a group of pro-bono experts（Layer, Investor, Consultant, Analyst, Engineer, Entrepreneur, Banker, Public Sector Specialist, etc.）for supporting startups. Driving health innovation ecosystem in Japan by activities based on global and future vision, not limited to any organization or business area. http://finovators.org/

[Summary] Diversification of Online and Mobile Banks: Leveraging BaaS and New Industry Entrants | FinTech Topics #113

FinTech Topics

[Summary] Diversification of Online and Mobile Banks: Leveraging BaaS and New Industry Entrants | FinTech Topics #113

（Original Video in Japanese was published on the FINOLAB CHANNEL on Feb. 10, 2025）

This article summarizes the FINOLAB CHANNEL’s FinTech Topics #113 video, which discusses the diversification of online and mobile banks in Japan, focusing on the utilization of Banking as a Service (BaaS) and the entry of new business sectors into the financial industry.

The First Generation of Internet Banks

The video begins by noting that over two decades have passed since the emergence of the first generation of internet-only banks in Japan. These initial players, while some have rebranded, laid the groundwork for today’s digital banking landscape. These include Japan Net Bank (now PayPay Bank), Sony Bank, eBank Bank (now Rakuten Bank), Sumitomo SBI Net Bank (which actively promotes its BaaS platform under the name NEOBANK), and Jibun Bank (now au Jibun Bank).

The Second Generation and Mobile-Only Approaches

Following the initial wave, a second generation of online banks has emerged, often in collaboration with other financial institutions or as part of larger internet groups. These include Daiwa NEXT Bank (linked with Daiwa Securities), GMO Aozora Net Bank (part of GMO Group), Minna Bank (part of Fukuoka Financial Group), and UI Bank (part of Tokyo Kiraboshi Financial Group). Notably, some of these newer banks have adopted a mobile-only strategy, solely focusing on smartphone-based transactions.

Convenience Store Banks

Alongside these developments, major convenience store chains like Seven Bank, Lawson Bank, and AEON Bank have also established their own banks. While having ATM networks, these convenience store banks can be considered similar to online banks due to their lack of traditional branch networks.

Banking as a Service (BaaS) and NEOBANK

The discussion then shifts to Banking as a Service (BaaS), with Sumitomo SBI Net Bank’s NEOBANK highlighted as a key player. NEOBANK partners with various industries to create new banking services. Examples include JAL NEOBANK (with Japan Airlines), Takashimaya NEOBANK (with the department store, Takashimaya), Yamada NEOBANK (with electronics retailer chain, Yamada Denki), Dai-ichi Life NEOBANK (with Dai-ichi Life Insurance), SBI Securities NEOBANK, and SBI Remit NEOBANK.

Recent Developments in BaaS Partnerships

The video emphasizes significant developments in BaaS in the past 2 years, with new entrants from diverse sectors. These include:

  • Transportation: JRE Bank (a partnership between JR East and Rakuten Bank, launched in May 2024, offering railway-related benefits), and KEIO NEOBANK (a collaboration between Keio Corporation and Sumitomo SBI Net Bank, from Sep. 2023, providing services linked to Keio Passport card membership and benefits along the Keio railway lines).
  • Real Estate: Hebel Haus NEOBANK (a service from Asahi Kasei Homes and Sumitomo SBI Net Bank, launched in June 2024, tailored for residents of Hebel Haus, offering enhanced housing loan guarantees), and Yutaka Bank (a service from KI-Star Real Estate and Sumitomo SBI Net Bank, focusing on housing loans and KI Points), .
  • Energy: Katene Bank from Dec. 2024 (a partnership between Chubu Electric Power and Sumitomo SBI Net Bank, offering benefits like housing loan discounts and points for electricity/gas usage), and a planned collaboration between Kansai Electric Power, UI Bank, and Kiraboshi Group to create a new bank focused on zero-carbon initiatives, where deposits will fund environmentally friendly projects and offer eco-friendly housing loans.

Digital Banks for Small and Medium-sized Enterprises (SMEs)

The video also introduces the concept of digital banks specifically targeting SMEs, such as the planned 01 Bank. This initiative by Ikeda Senshu Bank, a regional bank from Osaka, utilizing GMO Aozora Net Bank’s BaaS platform, aims to launch in fiscal year 2024 with significantly lower initial investment compared to first-generation online banks. 01 Bank intends to integrate with various cloud services used by SMEs (e.g., accounting, expense management) to streamline financial operations and create a compelling banking service.

Key Trends and Future Outlook

The video concludes by highlighting several key trends:

  • Evolution of branchless banking: New online/mobile banking services prioritize smartphone applications.
  • Lower entry barriers: BaaS significantly reduces the initial investment required to launch a digital bank.
  • Diversification of BaaS providers: The BaaS landscape is becoming more competitive, with multiple online/digital banks offering these services.
  • Synergy with core businesses: New entrants are increasingly focused on creating synergies between their existing businesses and their banking services to offer unique value propositions to customers.
  • Impact of rising interest rates: The return to a world with interest rates allows banks to differentiate their services more effectively.

Overall, the Japanese online and mobile banking sector is experiencing significant diversification driven by the adoption of BaaS, enabling companies from various industries to enter the financial services market and offer tailored banking solutions to their customer bases.