（Original article in Japanese by Makoto Shibata was published for FinTech Journal on Sep. 16, 2025）
https://www.sbbit.jp/article/fj/171238

In July 2025, 01Bank, the new digital bank launched by regional banking group, Ikeda Senshu HD, is capturing significant attention. Unlike traditional financing models reliant on collateral and balance sheets, 01Bank pioneers “business value-based lending” by leveraging transaction data from e-commerce and cloud services. It is not a coincidence that the mega-bank like SMBC is expanding their reach to SME customers with their new digital banking offering  “Trunk” service. These digital finance competitions to capture the SME market in Japan seem to heat up.

Ikeda Senshu HD’s 01Bank: New Challenge

Ikeda Senshu Holdings, long dedicated to SME support, recognized the limitations of conventional lending for evaluating the growth potential of micro-businesses and new ventures. To solve this, the firm, which announced the concept in September 2023, officially launched 01Bank as a wholly-owned subsidiary in July 2025.

The launch is driven by three core strategic objectives: (1) To establish a new revenue model for regional financial institutions. (2) To expand data-driven finance. (3) To cultivate new markets through platform collaborations.

The Core Model: Business Value-Based Lending

01Bank’s primary service is an online-only lending model designed to visualize creditworthiness using data that traditional financial reports cannot measure. Companies apply via the web, sharing data on sales performance and project completion rates (in addition to financial statements) to enable faster screening and loan execution.

This evaluation relies heavily on Platformers (PFers)—partner companies like the major crowdfunding platform Makuake—which provide data integration infrastructure. This “PFer data model” enables a multifaceted assessment of business viability, allowing funding for newly established or unprofitable companies based on their customer base and business model. The reliability of this data model is crucial to mitigating fraud seen in the past score model lending.

Infrastructure and Strategy

01Bank’s infrastructure utilizes “BaaS by GMO Aozora Net Bank,” ensuring a flexible and scalable system while keeping development costs low. This lean approach is reflected in its initial capitalization of 2 billion yen (4 billion yen including capital surplus), a small fraction of the 10 billion yen typically raised by the past  net banks.

Looking forward, 01Bank plans to expand services beyond lending into payments and account services, aiming to evolve from a regional bank model into a comprehensive digital platform dedicated to supporting startups and local entrepreneurs.

SMBC’s Trunk: The Mega-bank Strategy for Efficiency

Sumitomo Mitsui Banking Corporation (SMBC) launched “Trunk” in May 2025, targeting SMEs and new corporations. The initiative aims to replicate the success of its individual-focused service, “Olive,” while addressing the corporate need for greater account convenience and efficient fund management.

Trunk offers a major differentiator in speed, allowing applications via smartphone or PC with service starting as early as the next business day, matching or exceeding net bank speeds while retaining mega-bank reliability. Notably, the service restricts enrollment to non-existing SMBC corporate account holders, positioning it as a tool for new customer acquisition.

A Deep Dive into Trunk: Low Cost and Integration

Trunk’s core features include:

1. Low Cost: Free transfers to SMBC accounts and a flat 145 yen (tax included) fee for other banks, significantly undercutting existing mega-bank services.
2. Operational Efficiency: It automates payments for taxes, social insurance, and Japan Finance Corporation repayments. Future integration includes features like a bill payment function that uses smartphone photos to automate data entry and transfers.
3. Ecosystem Integration: Trunk integrates financial and business support by offering simultaneous application for the Sumitomo Mitsui Card Business Owners card (requiring no corporate registration documents) and providing free limited-time access to key SaaS platforms (Google Workspace, Microsoft 365, freee accounting, etc.).

Trunk is designed to evolve into a comprehensive financial platform offering factoring and AI-powered financial advice. By the 2026 fiscal year, SMBC plans to introduce new cards with an AI credit engine and the “Finance Agent” concept, an AI that predicts funding needs and assists with subsidy applications.

The Evolving Landscape of SME Finance

The concurrent launches of 01Bank and Trunk underscore the escalating demand for digital services among Japan’s over 3 million SMEs. This growth is attracting major financial players, as seen by Mizuho Bank’s acquisition of a controlling stake in UPSIDER (July) and Mitsubishi UFJ Bank’s collaboration with LayerX (September) on operational efficiency tools.

The competitive landscape now includes net banks like GMO Aozora Net Bank (BaaS provider) and Sumishin SBI Net Bank (which launched Bill One Bank in 2024). Traditional players like Rakuten Bank and PayPay Bank are also actively expanding their corporate account base.

For regional banks, maintaining customer engagement requires enhancing digital capabilities. The specialized, lending-focused service of 01Bank, supported by BaaS, offers a clear roadmap for other regional financial institutions. Since competing with mega-banks on comprehensive strength is difficult, regional players must focus on developing distinctive, targeted services.