Aeon Unit, Sumitomo Mitsui Trust Bank Certified as 1st-Ever Info Banks

Economy

Tokyo, July 8 (Jiji Press)--The Information Technology Federation of Japan certified on Monday FeliCa Pocket Marketing Inc. and Sumitomo Mitsui Trust Bank as so-called information banks to allow companies to use personal data for business purposes.

The certification was first of its kind, based on the government's guidelines compiled in June 2018 for information banking services to utilize personal information while protecting privacy for individuals.

There is no need to obtain the federation's endorsement to commercialize personal data. The Dentsu Inc. <4324> group has already launched personal data banking operations on its own. But credibility of companies as safe data providers will be reinforced if they are certified as information banks by the IT industry group.

The Aeon Co. <8267> unit and the trust bank will start operations utilizing personal data they hold by March next year.

FeliCa, which offers reward points and e-money unique to municipalities in the business to reinvigorate regional economies, plans to provide its individual customers' data to local retailers and small firms to help them set up business strategies.

[Copyright The Jiji Press, Ltd.]

Jiji Press