mizuho-bank-logoOn September 15, 2016, Mizuho Bank and Softbank agreed to establish a joint-venture company to provide lending service utilizing FinTech for individual customers.

The JV is scheduled to be set up on November, 2016, subject to registration of lending business, and start its operation in the first half of 2017. The capital amount at the beginning of the inception will be 5 billion JPY and the percentage of investment by each company is 50%.

The basic policies of the JV are “collaboration of strengths of Mizuho Bank and Softbank”, “Creation of new brand”, “Low-cost operation without shops” and “Robust corporate governance”. The company aims to support people to strive to attain their dreams through the attractive service.

The new FinTech Lending service is the Japan’s first score lending service which utilize scoring model and can be completed via smartphone. The scoring model is generated by collaboration between Mizuho’s big data and loan examination know-how and Softbank’s big data and know-how of data analysis by AI. The companies believe this scoring model enable to expand the acceptable range of the examination and to realize competitive interest rate.

(Source: Mizuho Bank )

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