Fintech

Bank of Japan Gov. Haruhiko Kuroda on Wednesday emphasized the potential growth that banks and fintech companies can spark if they work together, acknowledging the expanding role of financial services provided by companies outside the conventional banking industry.

Japanese information technology group Fujitsu will offer financial institutions a credit-scoring tool that uses artificial intelligence to screen prospective borrowers.

Japanese shipping giant Nippon Yusen is planning to develop a payment platform that will allow crew members to more easily send money home as well as purchase products and services in different ports of call, the company said on July 25.

Singapore Telecommunications extended its VIA mobile payment alliance to Japan on July 25, allowing the growing number of Southeast Asians visiting the country to use their native e-wallets.

Japan's SoftBank Group has led a $231 million funding round for Brazil's Creditas, the fintech lender announced on Wednesday.

New financial technology companies are transforming Japan's lending sector, tapping artificial intelligence and other cutting-edge methods to ease a cumbersome loan process that hampers access for many businesses.

Female directors are carving out careers in Japan's male-dominated banking sector.

Fintech leaders on Tuesday called on governments to facilitate cashless societies.

Line and Alibaba Group Holding are among five major internet businesses from Japan and China that will standardize QR codes that are scanned to make payments via smartphones in Japan, Nikkei has learned.

About half of Japan's 1,400 banks are planning to join a nationwide smartphone payment service that is now slated to start in October.