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Sunday, December 3, 2023

JFIA 2023" Grand Prize is awarded to Credit Saison!

FINOLAB and FINOVATORS, the Financial Innovation Association of Japan, announced the Grand Prize and the Awards for Excellence in each category of the Japan Financial Innovation Award 2023 at the hybrid Future Frontier Fes by FINOLAB on March 10! The awards were presented at the "Future Frontier Fes by FINOLAB" on March 10!

JFIA2023 Grand Prize and Awards of Excellence in each category

The JFIA 2023 Grand Prize and the Awards of Excellence in each category are as follows

Grand Prize: Credit Saison Co.

Started issuing "SAISON CARD Digital for becoz," Japan's first credit card that can visualize CO2 emissions based on payment data.
Evaluation Points:
Visualization of CO2 emissions through purchasing behavior using cards in daily life, and an attitude of trying to raise users' awareness of environmental issues.

Startup Excellence Award: Simple Form Co.

Simple Form officially releases SimpleCheck, which automates the corporate survey process.
Evaluation Points:
By automating the labor-intensive corporate investigation process that many financial institutions and business corporations use when starting a transaction, it is expected to increase the efficiency of the field and improve the level of screening.

Collaboration Excellence Award: IB Corporation / SBI Insurance Company / Zurich Insurance Company / Lifenet Insurance Company

FinTech startup IB and three insurance companies including SBI Insurance launch joint project for insurance policy management platform
Evaluation Points:
The point that the companies are collaborating to build and operate a policy management platform to solve these problems and eliminate insurance claims leakage, as problems often occur when insurance users lose track of their policies or when family members do not even know the policyholder in the event of an inheritance.

The JFIA is an award system established in 2020 to promote advanced efforts in the financial sector to utilize information and communication technology, to share best practices within the industry, and to further expand open innovation beyond the boundaries of corporate groups and industries.

It consists of three categories: startups, financial institutions, and collaborations. FINOLAB, Japan's leading fintech center, serves as the secretariat and has selected approximately 300 finance-related innovation projects for press release during 2022. From these, FINOVATORS, a panel of finance-related experts, reviewed the entries and announced the winners in each category on February 15 from the perspective of innovation, growth potential, and potential for change in the financial industry.

The award ceremony will be published below as soon as it is ready.

JFIA2023 award-winning companies are as follows *In order of press release date
xenodata lab.
Began forecasting market conditions and industry statistics one year in advance based on news text and other information - Automated forecasting of approximately 25,000 items, including the Nikkei Index, crude oil prices, and automobile sales volume, is now available.

Zero Board Co.
Zero Board supports Sumitomo Mitsui Trust Bank's calculation of GHG emissions from real estate entrusted to it - Visualization of GHG emissions at the operational stage of properties to promote the spread of environmental real estate.

Simple Forms, Inc.
Simple Form officially releases SimpleCheck, which automates the corporate survey process.

Smartpay Inc.
Smartpay announces "Smartpay Bank Direct," a BNPL service that enables immediate debits from 67 bank accounts.

<Financial Institutions Category
Seven Bank, Ltd.
Seven Payment Service, a Subsidiary of Seven Bank, Releases New "ATM Money Collection" Service - No Special Card Needed! Easy money collection at Seven Bank ATMs using a smartphone app

Credit Saison Co.
Started issuing "SAISON CARD Digital for becoz," Japan's first credit card that can visualize CO2 emissions based on payment data.

MS&AD Insurance Group Holdings, Inc.
~Launched "Accident Risk AI Assessment" to prevent traffic accidents by assessing and extracting potential danger points.

<Collaboration Category
Kiva Corporation / Sompo Japan Insurance Inc.
Kiva and Sompo Japan Insurance, which provide extended warranty "proteger" for EC, start considering a new warranty scheme - Aiming for safer, more secure and easier extended warranty

IB Corporation / SBI Insurance Company, Limited / Zurich Insurance Company / Lifenet Insurance Company, Limited
FinTech startup IB and three insurance companies including SBI Insurance launch joint project for insurance policy management platform

Infucurion Corporation / LayerX, Inc.
Infucurion to Provide "Xard" for Development of "Baclac Business Card" Issued by LayerX - Low-cost and Speedy Issuance of International Branded Cards

G-Bank Technologies OÜ / GIG-A Corporation / UI Bank Inc.
GIG-A, a multilingual mobile financial service, partners with UI Bank, a member of the Tokyo Kiriboshi Financial Group, for API collaboration.

The winners of the Grand Prize and the Awards of Excellence in each category for the last two years are as follows
Grand Prize:The Hokkoku Bank, Ltd.
Japan's First Full Banking System on a Public Cloud Goes Live at Hokkoku Bank
~BankVision on Azure" is driving business model transformation at regional banks.

Financial Institution Excellence Award: The Bank of Mitsubishi UFJ, Ltd.
Providing "Money Canvas," a Comprehensive Asset Formation Support Service

Collaboration Excellence Award: SBI Sumishin Net Bank, Limited / Yamada Holdings Co.
Yamada NEOBANK" was born to support "the entire lifestyle"!

Grand Prize: Alpaca Japan K.K. / FOLIO Co.
FOLIO ROBO PRO", AI technology for financial institutions implemented in a robo-advisor for individuals

Startup Excellence Award: Finetext Inc.
Inspire" insurance cloud service for businesses

Collaboration Excellence Award: ELEMENTS Group / Liquid Corporation / Tokio Marine & Nichido Fire Insurance Co.
Cyber Risk Insurance for eKYC Services

Special Prize: justInCase Corporation / Daido Life Insurance Co.
Corona Helping Hands Insurance" to support healthcare professionals and small and medium enterprises

Related News Releases

The JFIA 2022 Grand Prize for financial innovation goes to Hokkoku Bank, Ltd. for its "Cloud Banking System in Operation.

The JFIA 2021 Grand Prize for financial innovation goes to Alpaca Japan Inc. and FOLIO ROBO PRO by FOLIO Inc.

FINOLAB and FINOVATORS Announce "JFIA 2020" Grand Prize and Awards of Excellence
~ The grand prize was awarded to Fukuoka Financial Group.


name of companyFINOLAB Corporation
EstablishmentJuly 11, 2019
Location1-6-1 Otemachi, Chiyoda-ku, Tokyo
representativeRepresentative Director Chie Ito
Business OverviewWe will solve business creation issues by creating a theme park (online and real place) for new business and innovation, and by providing learning, discovery, and excitement related to business, meeting people who can share the same feelings, and providing a SANDBOX (testing ground). We also aim to build a next-generation business ecosystem that enables the creation of businesses that solve social issues one after another.
uniform resouce locatorhttps://finolab.co.jp/jp/index.html

FINOLAB Community Overview

FINOLAB (The Fintech Center of Tokyo, FINOLAB) is a members-only community and space that aims to create a FinTech ecosystem and generate new business based in the Otemachi area of Tokyo, one of the world's leading international financial centers.
Established in February 2016 as Japan's first FinTech hub through a collaboration between Mitsubishi Estate, Dentsu Inc. and Dentsu International Information Services Inc.
Web site (URL):https://finolab.tokyo/jp/
YouTube (URL):https://www.youtube.com/finolabchannel

Outline of FINOVATORS (Financial Innovation Association of Japan)

A non-profit organization of startup support professionals (lawyers, investors, consultants, analysts, technologists, entrepreneurs, financiers, public, etc.) who participate as volunteers.
With a global perspective and futuristic thinking that transcends the interests of any one company or specific field, we are leading the formation of a healthy innovation ecosystem in the Japanese economy and society.

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PORT by Creww is an open innovation media for startups, entrepreneurs, entrepreneurs in recovery, and companies seeking to create new businesses on the theme of social issues, operated by Creww Co.
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