FINTECH:Nomura Establishes Financial Innovation Office

A few days after the Asian Wealth Times reported that Japanese electronic commerce and Internet company Rakuten was establishing a US$100 million global Fintech fund, Japan’s Nomura Holdings have announced plans to establish a Financial Innovation Office, effective December 1, 2015.

The new office will be charged with further enhancing the promotion and support of the firm’s businesses through innovation in the area of financial services. Since the launch of a cross-divisional FinTech Committee in April 2015, Nomura has focused on maximizing the use of both internal and external technology resources for its business strategy.

Specifically, the company has been looking at ways to increase its competitiveness by sponsoring technology-related events to promote open innovation, conducting research on cutting-edge technology such as block-chains, investing in FinTech-related areas, and participating in industrial consortiums.

Nomura has also conducted various studies and research to support new technological innovations. With innovative technologies making it easier for financial services to expand, new business opportunities are arising and conventional financial businesses are being transformed.

Together with the FinTech Committee, the Financial Innovation Office will work to identify new businesses to focus on and pursue initiatives to transform the way the firm operates. At the same time, by providing finance and other support, Nomura will assist the development of start-up companies that will play a role in promoting Tokyo as an international financial center.

Through such initiatives, the firm aims to contribute to the further development of the financial services industry while improving the levels of client satisfaction as Asia’s global investment bank.

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