GMO Internet marks progress regarding launch of new Internet banking business

Maria Nikolova

Effective today, Aozora Trust Bank has its name changed to GMO Aozora Net Bank.

Banks and novel technologies get more intertwined in today’s financial services environment. In line with previous announcements, Japanese online services provider GMO Internet Inc. (TYO:9449) is getting closer to the launch of a new Internet banking business. The company has announced that, effective today, June 1, 2018, the name of Aozora Trust Bank is changed to GMO Aozora Net Bank, Ltd.

This is one of the steps towards establishing the business, which harnesses the capabilities of GMO Internet and Aozora Bank. The new head office relocation has also been completed, the company has confirmed.

The start of the operations of GMO Aozora Net Bank is scheduled for July 2018.

The aim of GMO Aozora Net Bank 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’s decision to change its name was prompted by the need to highlight that it will provide “Convenient web-based financial services to customers through tie-ups between a bank and an IT corporation”. 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. About a year ago, virtual currency trading business GMO Coin, was launched.

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<