Sony Bank Co., Ltd.

Sony Bank Inc. is a Japanese online bank and is a wholly owned subsidiary, fully invested by Sony Financial Group, a subsidiary of Sony Group. It is commonly known as "Sony Bank." Founded in 2001, it provides financial services aimed at managing individual assets.

overview

Sony Bank was established on April 2, 2001 with investments from Sony, Sumitomo Mitsui Banking Corporation, and others, and began its business on June 11, 2001. Taking advantage of its characteristics as an online bank, we provide financial services primarily for individuals. In particular, it has strengths in management products such as foreign currency deposits and investment trusts, and has built a revenue model that combines interest income from mortgages and other mortgages. Sony Bank's trading website is named "MONEYKit" and offers an online service that emphasizes convenience.

Management Strategy

In the Sony Group's medium-term management plan announced in 2018, financial businesses, including Sony Bank, were positioned as core businesses that are responsible for recurring (a business model that generates continuous revenue). While Japan Net Bank (now PayPay Bank) and IWB Bank (now Seven Bank), the starting lineup of online banks, are the main source of revenue, Sony Bank places emphasis on its role as a tool for managing individual assets.

performance

Sony Bank ranked number one in the Nikkei Financial Institutions rankings for nine consecutive years from 2007 to 2015, and also ranked number one in the online banking category in 2017, 2019, 2020 and 2024 in the Oricon customer satisfaction survey. The company also achieved unusual growth in deposit balances for an online bank, exceeding 1 trillion yen as of January 2008, and reached 1.8782 trillion yen by the end of March 2015. In fiscal 2018, the retail balance (total of deposits, foreign currency deposits, investment trusts, securities brokerage, discretionary accounts, and personal loans) was expected to reach 4.2 trillion yen.

Business content

Sony Bank has a strong advantage in handling foreign currency deposits, and its low exchange fees and large number of currencies handled are highly regarded within the industry. Foreign currency deposit balances through Sony Bank WALLET are expected to reach 430 billion yen in fiscal 2018, making it the second largest after megabanks. In addition, in October 2017, the company began issuing the Takashimaya Platinum Debit Card, and is working to strengthen its customer base by expanding its partnership. It also provides mortgages, mutual funds, and securities brokerage services, and continues to grow as an online bank that meets a wide range of financial needs.