Leading Fintech start-ups are travelling to Japan as part of a trade mission organised by UK Trade & Investment (UKTI). They include members of Innovate Finance, the independent not-for-profit membership organisation which sets out to serve the global Fintech community.
The trade mission includes a Fintech delegation and runs from today until 2 December, 2015. Briefings are being provided by Mitsubishi Estate, The Bank of Tokyo and NTT. Innovate Finance members making the long-haul trip include Azimo, City Falcon, FundApps, Money Mover, Prophis, World Remit and Yoyo Wallet.
Japan is hoping that Fintech initiatives will help reform its traditional financial services sector which is seen as unwelcoming to new entrants and doing nothing to promote entrepreneurial growth. Japan is making some headway, especially in the remittance market, and the rise in new mobile payments firms is also helping to disrupt the country’s banking sector.
Innovate Finance CEO Lawrence Wintermeyer said: “The trade mission to Japan will showcase the UK talent that is helping to reform banking and hopefully inspire the Japanese financial markets to do more to change their financial systems and support more FinTech innovation.”