12.8 c
Saturday, December 2, 2023

OLTA and Ehime Bank and Kitanihon Bank each launched a joint business.

OLTA, Japan's first online factoring service provider "Cloud Factoring," will launch its "Cloud Factoring Business" jointly with Ehime Bank and Kitanihon Bank, respectively, and begin providing the service sequentially. This is the first joint business with a second regional bank in Japan.

About Cloud Factoring

Crowd factoring is "funding without borrowing," in which companies sell "invoices awaiting payment" from their commercial transactions to raise working capital at an early stage through online completion.
OLTA is a pioneer company that launched Japan's first online factoring service, Cloud Factoring, in 2017. The service, which features "fast, easy, and reasonable" through AI-based screening, is used by many small and medium businesses (corporations and sole proprietors). The service is used by many small and medium-sized businesses (corporations and sole proprietors).

Himegin Crowd Factoring powered by OLTA
 URL:https://www.himegin-olta.jp(Start of provision: August 18, 2021)
Kitagin Crowd Factoring powered by OLTA
(Scheduled to begin offering this service on September 8, 2021)

Background and Significance of the Joint Venture

Crowd factoring has attracted attention in the recent Corona disaster because it is "online financing" with a low risk of infection and a low psychological hurdle because it is not a loan (borrowing), but it is a new service for small and medium-sized businesses, and there are few companies that are aware of cloud factoring as a financing method. However, the challenge was that not many companies were aware of cloud factoring as a financing method because it was a new service for small- and medium-sized businesses.

Regional financial institutions have a high degree of recognition and trust from customers in their respective regions. This is the result of their long-standing relationships with their customers and the support they have provided to small and medium-sized enterprises (SMEs) and others by offering loans and other financial services.
On the other hand, a common challenge for regional financial institutions is how to quickly provide working capital to small and medium-sized businesses in the region in the face of the new social challenge of new coronavirus infection. Since the acceptance of virtually interest-free and unsecured loans (so-called "corona loans") from private financial institutions will end at the end of March 2021, there is a need for "post "corona loan" support measures.

In this environment, many regional financial institutions have already entered the factoring business through collaboration with fintech companies. Through collaboration between the two, cloud factoring will be added to the suite of services offered by regional financial institutions, enabling them to support small and medium-sized businesses by providing working capital as a means of "post-Corona financing".
OLTA will continue to work with many regional financial institutions to contribute to the development and revitalization of regional economies through social implementation of crowd factoring.

Outline of Joint Venture

The joint project between OLTA and financial institutions for crowd factoring is a co-creation business model that leverages each other's strengths.
OLTA provides consulting services in planning, development, implementation, and operation of web services to partner financial institutions on an OEM basis. Partner financial institutions will add the services to their own branded financial product service lineups and guide them to their corporate and individual clients.

For customers of partner financial institutions that have introduced cloud factoring, it enables them to use cloud factoring as a service of the financial institutions they usually use, and to procure short-term and small amount of working capital more easily.

List of Achievements in Providing OEMs to Financial Institutions

Recruitment of Collaboration Partners

OLTA is looking for financial institution partners who will continue to work with us to promote crowd factoring as a new means of fundraising.


About OLTA Corporation

Developed AI (scoring model) based on corporate data from approximately 200,000 companies.
Since 2017, the company has offered Japan's first online factoring service, Cloud Factoring.
With the mission of "transforming all information into credit and creating new value," the company is working extensively with financial institutions and SaaS companies to popularize cloud factoring, and has a proven track record of providing OEM services to banks.

name of companyOLTA Corporation
EstablishmentApril 2017
LocationVORT Minami AoyamaⅡ 3F, 1-15-41 Minami Aoyama, Minato-ku, Tokyo
representativePresident and CEO Yuki TAKUSHIKUSHI
Business OverviewPlanning, development and provision of cloud factoring business and credit models
uniform resouce locatorhttps://www.olta.co.jp/ (Service website)
https://corp.olta.co.jp/ (Corporate website)

About Ehime Bank, Ltd.

name of companyEhime Bank, Ltd.
Establishment1915 (Taisho 4)
capital stock2-1 Katsuyama-cho, Matsuyama City, Ehime Prefecture
representativeYoshinori Nishikawa, President
Business Overviewbanking
uniform resouce locatorhttps://www.himegin.co.jp/

About The Kitanihon Bank, Ltd.

name of companyThe North Japan Bank, Ltd.
EstablishmentFebruary 1942
capital stock1-6-7 Chuodori, Morioka-shi, Iwate
representativeYasuhiro Ishizuka, President & CEO
Business Overviewbanking
uniform resouce locatorhttps://www.kitagin.co.jp/
Facebook Comments
PORT Editorial Officehttps://port.creww.me/
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.
- Advertisment -
- Advertisment -


Ando Hazama x Cube Earth] Innovating the world's urban OS with patented technology from Japan and the U.S.

Creww Growth Case Study Interview】Ando Hazama has selected Cube Earth, a startup company offering a "smart disaster prevention system" to local governments through the "Ando Hazama New Business Co-Creation Program 2022," an accelerator program for fiscal year 2022, utilizing Cube Earth, a geographic information system platform patented in the United States and Japan. Cube Earth, a startup company that provides municipalities with a "smart disaster prevention system" using the geographic information system platform "Cube Earth" patented in the U.S. and Japan, was selected for the Ando Hazama New Business Co-Creation Program 2022. The startup is developing next-generation social infrastructure infrastructure such as disaster prevention systems, smart cities, drones, and digital twin systems as part of the DX approach to municipal crisis management. What specific initiatives are they pursuing? We interviewed Hiroyuki Horii, Deputy General Manager of the Innovation Department, Corporate Strategy Division, Ando Hazama, Shigehiko Amo, Chairman of Cube Earth, and Zenshi Takeda, President and Representative Director.

Sanki Kogyo × Startups] Become a company that continues to be chosen|New Steps in Co-Creation with Startups

Sanki Kogyo Corporation, which will celebrate its 100th anniversary in 2025, has set its sights on becoming a company that will "continue to be chosen" in accordance with its vision for 2050, and is working to strengthen its core businesses and enhance the Sanki brand. One of our new initiatives is to strengthen our core business and improve the Sankiki brand. Therefore, as one of the new initiatives, we are challenging the "SANKI Open Innovation Program 2023". We interviewed Mr. Hiroyuki Sasaki, Facility Systems Business Department, Mr. Tadashi Ishiwata, Corporate Planning Department, Corporate Planning Office, and Mr. Naoya Tokuda, Corporate Planning Department, who are challenging the accelerator program for the first time, about their frank thoughts from their respective standpoints.

Ando Hazama × Air Digital × Kuki City] Tackling the challenge of extending healthy life expectancy through digital sports!

Ando Hazama, a general construction company that promotes the creation of new businesses through open innovation, has selected Air Digital Inc. Air Digital, Inc., a company involved in the development of digital sports space and the operation of digital sports fields, was selected for the program. Subsequently, Ando Hazama, Air Digital, and Kuki City, Saitama Prefecture, signed a collaboration agreement and are now working together on "Sports 60 & Smart," one of the largest digital sports clubs in Japan, which is located in the "Ario Washinomiya" shopping mall facility in Kuki City. What specific initiatives are being undertaken? We interviewed Tsubasa Sakakibara, Manager of the Innovation Department of Ando Hazama's Corporate Strategy Division, Sobaku Maeda, Representative Director of Air Digital, and Takeshi Kanazawa, a member of the Sports Promotion Section of the Health and Sports Department of the Kuki City Office.

Startup Recruitment] Caring for Community Health|Future Aisei Pharmacy with Roots in the Community through New Business

Aisei Pharmacy has more than 400 dispensing pharmacies nationwide. As the company will soon celebrate its 40th anniversary, we are challenging the accelerator program in search of the next pillar of our business! Aiming to become a pharmacy that is needed by local residents, the company will explore the possibility of creating new businesses. In this interview, we spoke with Hiroyuki Hori, General Manager of the Business Planning Department of Aisei Pharmacy Inc. about why Aisei Pharmacy is now taking on the challenge of open innovation with startups.
Facebook Comments