TEL AVIV, Israel, Nov. 5, 2019 /PRNewswire/ -- SBI Holdings, Inc., a leading financial institution in Japan, is announcing the establishment of a new joint venture, SBI PayKey Asia Co., Ltd which will support the sales and market launch of the unique Social Banking Solution that provides seamless access to financial services from any social media application.
By introducing PayKey's solution, banks and digital wallets will be able to easily offer financial service functions on social messaging apps that are already used by billions of users worldwide. Over 20 financial institutions around the world have already introduced this solution, with more expected to do so in the near future. In Japan, several financial institutions are on the move for the introduction of the solution.
SBI PayKey enables banks to seamlessly deliver users a variety of financial services through day-to-day chats. This will greatly improve user experience, particularly of millennials, and further accelerate the digital transformation of financial institutions. Going forward, SBI PayKey plans to cooperate with other SBI Group companies to promote the use of PayKey by financial and non-financial companies in the Japanese market, and to accelerate its business development throughout Asia.
Mr. Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings, stated as follows:
"We believe that PayKey is the best solution to enable P2P payment transactions within the social messaging applications, just like chatting. It would also support financial institutions to improve their services and attract younger generations. We expect that the new convenient experience brought by PayKey would accelerate the need for the transition to neo-bank in the Japanese market."
Mr. Hayato Koeda, President and CEO of SBI PayKey Asia, stated as follows:
"The usage rate of banking applications in Asian countries including Japan is still low, and we are lagging worldwide. We are confident that by partnering with PayKey, the unique and proven solution in various countries, we can deliver a frictionless user experience to consumers in Japan and Asia and increase the usage rate of mobile banking applications."
Mr. Omer Paz, COO of PayKey, adds: "The partnership with SBI is instrumental in introducing PayKey to the Japanese market, which is rapidly adopting new trends in SNS and applications."
Based in Tel Aviv, Israel, PayKey enables banks and mobile wallets to offer their customers instant access to a variety of financial services, including P2P payments, balance check, account history and more - from within any mobile app, including all social and messaging apps. Our patented Social Banking Solution™ creates a frictionless experience that drives customer engagement and keeps services always in front of customers.
PayKey's solution is based on a state-of-the-art smartphone keyboard that includes a white label banking button, which opens a menu of services, fully customized to the offerings of the service provider. This keeps services in front of customers no matter what they're doing on their phones, helping position the service provider as an innovation leader.
PayKey is already serving over 20 financial institutions around the world, including global brands such as ING, Standard Chartered and HSBC. For further information visit: www.paykey.com.
For further information about this press release, please contact:
Guy Talmi, PayKey CMO: