September 26, 2017
Japan FinTech Summit Week Fin/Sum, organized by FSA (regulator), banks, Nikkei, and the FinTech Association of Japan, was great learning for me seeing things up and close and meeting some great people in the financial services space. Japanese are very nice people in general and the Fin/Sum organizers were great hosts. I was invited to speak at the event on India FinTech and found it amazing that people had a lot of interest in the subject. I spoke about IndiaStack, UPI and FinServ experiences (Google Tez, PhonePe, Kotak 811, Digibank, and many others) being built in India after the financial re-wiring over last several years and it was very well-received. After speaking to local experts in FinServ and FinTech in Tokyo, here are some notes about FinTech in Japan:
Japan, the land of technological superpowers and extremely developed industry/infrastructure, is a fairly conservative nation when it comes to FinTech startups and people like to stick to tried-and-tested systems. We currently track around 100+ Japanese FinTechs. There are only a total of 150 FinTechs or so. It’s much smaller in numbers when compared to prominent FinTech hubs but Japan has some great startups.