INTERVIEW: S'tomo Mitsui Eyes One-Stop Financial Service App

Economy

Tokyo, Jan. 5 (Jiji Press)--Japan's Sumitomo Mitsui Financial Group Inc. <8316> will launch a smartphone app giving retail customers a one-stop access to banking and many other financial services, President Jun Ota said.

With the app, to be released as early as March, the megabank group will offer asset management services, insurance products, consumer loans and reward point functions in an integrated manner to improve user convenience.

"We want to diversify and upgrade our services including in nonfinancial areas," Ota said in a recent interview, adding that more functions will be added to the app even after the launch, based on customer needs.

Sumitomo Mitsui aims to digitalize its services for retail customers further and make the business a source of earnings through its business alliances with online financial group SBI Holdings Inc. <8473> and Culture Convenience Club Co., which runs the T-Point loyalty point program.

Sumitomo Mitsui also plans to overhaul its domestic retail outlets.

[Copyright The Jiji Press, Ltd.]

Jiji Press