As we reported in March GMO Internet had ongoing discussion about joint establishment of an internet bank with Aozora Bank, on May 27, 2016, GMO Internet disclosed that the company executed a Memorandum of Understanding with Aozora Bank and Aozora Trust Bank under which the companies plan to jointly operate a joint Internet bank through Aozora Trust.
The internet bank’s concept is to bring new experiences and efficiencies to customers with simple and high-function of collaboration of banking and IT services. Specifically, it will provide following services and developments.
- Low-cost banking services that are linked to ecommerce builder or payment services offering improved productivity for small and medium enterprises including ecommerce businesses.
- IT driven banking/securities services for individuals that offer smart, cutting-edge functionality in conjunction with GMO CLICK Securities.
- A partnership that is not only limited to GMO Internet Group and Aozora Group, but quickly develops unique services through alliances with external FinTech corporations.
- Employ advanced technology in Internet services and systems in order to provide low-cost services and aim to maintain costs as low as possible.
The parties will continue with detailed discussions and negotiations with a view to signing an agreement concerning the join operation of a net bank. They plan to execute the final agreement by the end of June 2016.
(Source: GMO Internet )
- 2016/03/22 GMO and Aozora bank disclose ongoing discussion about joint Internet banking business
- 2016/02/02 GMO INTERNET and Tech Bureau jointly develop PaaS backend engine with blockchain technology
- 2015/10/06 GMO Internet launches Z.com branded hosting service in Singapore
- 2016/06/30 GMO Internet and Aozora Bank Consider Internet Banking Partnership