Japan: green light for information banking

Author: IFLR Correspondent | Published: 25 Sep 2019

Japan’s regulatory regime is keeping pace with the growing interest in information banking. Recent amendments will enhance customer experience, writes Kenichi Tanizaki of Atsumi & Sakai


The information banking business is beginning to gain popularity. This is evident in recent applications by several major players, among them large financial institutions and renowned IT vendors, for certification to conduct information banking businesses.

Information banking is defined as a business that manages customer data (including personal data) by leveraging a personal data store (PDS) system under a data use agreement executed with each customer. The PDS provides customer data to third parties – other business operators – on behalf of the customer, based either on the customer's instruction or on some other predetermined conditions. Despite the appearance of the word banking in the name of the business activity, a banking licence is not required to run an information...