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FINOLAB Inc., the fintech hub, will reopen next spring!
Dentsu Inc. and Dentsu International Information Services announced on October 17 that they will relocate and expand "The FinTech Center of Tokyo, FINOLAB Inc. (FINOLAB Inc.)", Japan's first financial technology (fintech) hub operated in collaboration with Mitsubishi Estate, from its current location in Marunouchi, Tokyo, to the Otemachi Building in Otemachi, Tokyo. The facility will reopen on February 1, 2017.
FINOLAB Inc. opened in February 2016 in the Tokyo Bankers Club Building. Within approximately eight months, 35 startups (including five overseas companies) and three sponsoring companies joined, and it is now fully occupied.
The Otemachi Building, where the expansion and relocation will take place, offers approximately 2.4 times the floor space. It will include project rooms for large corporations with an eye toward partnerships with startups, aiming to create new financial services through collaboration between participating companies and startups.
FINOLAB Inc. Renewal Concept (This rendering is a preliminary plan; details are subject to change)
Alongside this renewal, the corporate membership program has been revamped to accelerate open innovation for the further development of the fintech ecosystem.
As the first step, it has been decided to establish a Mizuho Financial Group lab facility within FINOLAB Inc. Based on the Open Bank API* development environment Mizuho plans to provide, FINOLAB Inc. will work closely with fintech startups and participating companies to create new financial services.
Furthermore, after the renewal opening, we will create spaces where participating companies and visitors can experience innovative fintech services and technologies firsthand. As one example, we are collaborating with Liquid, which provides payment and authentication services using proprietary biometric authentication technology, to install the company's fingerprint authentication security system on all doors within FINOLAB Inc.
※ Open Bank API…A mechanism enabling third parties outside banks to connect with bank systems—with the consent of the bank and its customers (such as depositors) and while maintaining information security—to access customer data held by the bank, thereby facilitating the creation of diverse financial services. API stands for Application Programming Interface.
Dentsu Inc. News Release
http://www.dentsu.co.jp/news/release/2016/1017-009065.html
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