As fintech upends banking, Japan regulator expects more cross-boundary tie-ups

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By Leika Kihara and Takahiko Wada
TOKYO (Reuters) - Japan will likely see more financial tie-ups that extend beyond traditional boundaries similar to those signed between internet banking giant SBI Holdings Inc and regional banks, the country's senior financial regulator said.
Advances in financial technology could trigger structural changes in Japan's banking industry by breaking barriers between lending and other services, said Teruhisa Kurita, who oversees bank supervision at the Financial Services Agency (FSA).
"We'll likely see more such cases as industry boundaries start to disappear," Kurita said of SBI's string of tie-ups with regional banks. "There could be combinations we never thought about," he told Reuters on Friday.
Years of ultra-low interest rates and a dwindling local population have hurt profits of regional banks, prodding some to consolidate or sign business tie-ups with ...


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