Japan’s Banks Opening Up to New Tech
Japan’s banking sector remains “deeply traditional” and was until very recently heavily regulated, which meant it has failed to evolve and take advantage of the technical revolution that has swept through other sectors in Japan
And that, believes Michael Kent, is a huge opportunity for British firms that lead the world in fintech, the term for advanced technology in the finance space.
“Deregulation has brought some small changes, but it’s still a very traditional model”, the founder and CEO of Azimo said. “They have finally realised, however, that everything is new today because of smartphone penetration. And that means they are incredibly interested in talking to us”.
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