GMO Internet, Inc. announced that the company has begun to look into partnering with Aozora Bank to jointly operate an internet banking service.

GMO Internet is a core driver of GMO Internet Group, headquartered in Tokyo, which was established in 1995. With its concept of “Internet for Everyone”, the group operates Internet Infrastructure, Online Advertising & Media, Internet Securities, and Mobile Entertainment. GMO Internet’s future partner, Aozora Bank was established in 1957 and provides diversifies financial services including consumer banking, corporate banking, specialized banking and financial markets with 19 subsidiaries.

Penetration of smartphone and growth of EC markets have generated various needs which include the ones traditional banking services can’t deal with. In this situation, 2 companies started to consider launching joint-run internet bank to enhance convenience of internet services by utilizing the strengths of the two companies.

Along with this collaboration, GMO Internet group will extensively cooperate with its group companies to provide attractive financial solution. The Internet bank service is expected to operate under Aozora Bank wholly-owned subsidiary, Aozora Trust Bank Limited, and GMO Internet will also consider investing in Aozora Trust Bank Limited.

The two companies will hold discussions to determine the schedule for launching the new business.

(Source: GMO Internet)