Japan’s first “mobile phone bank” launches
A advertisement for Japan's first mobile phone bank near Shibuya station in Tokyo
Jibun Ginko (“Personal Bank”) launched on June 18th, 2008 as a 50-50 joint venture of the Bank of Tokyo Mitsubishi UFJ and KDDI Corp, operator of the au mobile phone service, the second largest mobile provider in Japan.
Jibun Ginko is the fifth internet bank in Japan, and the first to take full advantage of the full range of the advanced features of mobile phones in Japan. Users can send and receive payments 24 hours a day, 365 days a year through mobile phones from the three major providers, the internet , or by telephone. Future services will include applying for credit card loans, depositing foreign currencies, and purchasing financial products.
Users with au handsets have a wider range of possibilities, such as sending funds to other au users using only the recipient’s mobile phone number, paying for online auctions, and purchasing electronic money credits.
Although Jibun Ginko does not have any brick-and-mortar locations, applications are available at Bank of Tokyo Mitsubishi UFJ branches, where some temporary signs for the internet banking service have been set up.