ARCHIVE 2019




Themes to be Resolved

Based on the opinions from Tokyo residents, the themes needing resolutions decided for each category.

Deposits & Withdrawals

Themes
Bank teller window1. Inconvenient that there are some procedures which can only be done in bank branches, such as ID verification
Online Banking2. Difficult to manage different login IDs and passwords and verification method for multiple online bank accounts
3. Hard to find services or functions when using online banking
Fees4. Deposits and withdrawal fees remain high
Remittance/
Transfer
5. Want a simple and low-cost app for making transfers

 

Payments

Themes
Electric payments6. Want other convenient cashless payment methods besides e-money
7. Too many different types of e-money makes it a hassle to use
8. The number of stores in Japan that accept credit cards, etc, is limited
Security9. Security systems should be strengthened to prevent theft and unauthorized use of cards/smartphones
Usability10. Want to have a payment system platform utilizing transportation/ MaaS *

*MaaS : “Mobility as a Service”.

MaaS is a concept that views mobility as an integrated service for users, not simply as a means, such as a single mobility service using one app to provide optimum means of transport from a place of departure a destination. (Ministry of Land, Infrastructure, Transport and Tourism)

 

Asset Management

Themes
Invest Education11. Want tools for beginners for learning about investment
Procedures12. Want to start investing, but don’t understand how to start
Product Range13. Want advice on asset management products that is suitable for the respective customer from a neutral perspective
14. There are few services/goods that can be managed with a smaller amount
15. Want a new service that allows investment advice to be received which is linked to daily life


Insurance

Themes
Systems/ Procedures16. Insurance procedures are inconvenient
17.Difficult to find out status of insurance coverage
Product Range18. Want advice on insurance products that is suitable for the respective customer from a neutral perspective
19. Want a service that allows insurance sharing


Financing

Themes
Procedures20. Want quicker and simpler procedures and examinations of loans
Product Range21. Want advice on loans that is neutral and suitable
22. Want a loan service that can accept even start-up companies with low credit ratings
23. Want a loan service tailored to cash flow


Other

Themes
Management24. Want a service that can manage financial assets collectively, such as bank accounts, insurance, securities, inheritance etc.
Other25. Want to have a new financial service in preparation for the coming age in which life expectancy will average 100 years

 

Number of applicants and applicant countries

In “Resolution of Tokyo Residents’ Needs” category*, applications were received from 80 financial institutions across 17 countries and regions (including Japan).
* Renamed to “Financial Innovation” Cathegory from 2019.

 

Support Program

Support program
As the selected companies head towards the final screening they worked on developing their proposed service or product into a concrete offering. The Support Program included preliminary seminars, a mentoring program, business matching opprtunities, and provision of office space.

 

Winners overview & Solution video & Award Ceremony

Winners overview

CompanyTheme
1st
Frich,Inc.
Insurance
Want a service that allows insurance sharing.
2nd
Fly Money Technologies LTD
Payments
Too many different types of e-money makes it a hassle to use.
3rd
400F Co., Ltd.
Asset Management
Want advice on asset management products that is suitable for the respective customer from a neutral perspective.

 

Solution Video from Winners

Frich,Inc.

 

Fly Money Technologies LTD

 

400F Co., Ltd.

 

Award Ceremony