GMO Internet, Aozora Bank Group set to launch new Internet bank in July 2018

Maria Nikolova

GMO Internet and GMO Financial Holdings are currently preparing for the launch of an Internet banking business in collaboration with Aozora Bank and Aozora Trust bank.

GMO Internet Inc. (TYO:9449) continues to build its services portfolio. Today, the company announced that the next push will be in the area of Internet banking. GMO Internet and GMO Financial Holdings are now preparing the launch of Internet banking business in collaboration with Aozora Bank and Aozora Trust bank. The date of the launch of the Internet banking business is July 2018.

The aim is to provide new financial services through the integration of finance and information technology, responding to the further development of IT and changes in the users’ actions by leveraging the expertise of the respective companies.

Aozora Trust Bank has also officially decided to change its name, pending approval by the regulatory authority, to highlight that it will provide “Convenient web-based financial services to customers through tie-ups between a bank and an IT corporation,” looking toward the launch of Internet banking services in July 2018. The new name will be effective from June 2018.

With regard to the trust business, which is an existing business of Aozora Trust Bank, the company will continue to offer services similar to traditional ones.

Internet banking services will be provided to corporate and retail customers of GMO Internet Group. These will cover products developed with partner securities firms and ones tailored for e-commerce businesses, based on core banking services such as deposit and exchange. The open banking strategy will focus on the development of a platform for financial services by utilizing Open API and forming alliances with FinTech firms, through partnering with various web services.

GMO Internet Group is actively pushing into new business lines in addition to existing businesses with GMO Financial Holdings, such as preparing for the launch of a next-generation Internet bank and cryptocurrency exchange business. Earlier this year, GMO Coin was launched. And GMO Internet has recently unveiled plans to set up a Bitcoin mining business, with the launch scheduled for the first half of 2018.

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