Joined SMBC and SBI in securities business using smartphones, etc. April 28, 12:12
Sumitomo Mitsui Financial Group, a major financial group, and SBI Holdings, a major online finance company, have joined forces in securities business using smartphones. In the financial industry, where IT companies and others have entered the cashless settlement market and competition is fierce, new collaborations are spreading.
According to the announcement, Sumitomo Mitsui Financial Group and SBI Holdings have reached a basic agreement that the banks, securities companies, etc. under their respective affiliates will broadly collaborate.
First, Sumitomo Mitsui will invest billions of yen in a securities company that specializes in smartphones in the SBI group to strengthen sales to young customers in their twenties to thirties who manage assets on smartphones.
We will also consider investing in AI and fintech-related investment funds that SBI plans to establish.
On the other hand, SBI plans to work with banks and securities companies under Sumitomo Mitsui to introduce new customers.
In the financial industry, IT companies have entered the fields of cashless payments and new competition has begun, and partnerships between major securities companies and regional banks are also advancing.
Such a move is likely to accelerate further due to the alliance between the megabank group and a major online finance company.