Sony Bank rolls out 'English online banking' in Japan

As of June 2019, the number of foreign residents in Japan has grown to 2.82 million, up 7.3% from 2018, and these numbers are expected to increase further, according to Yahoo Finance. Meanwhile, according to an online survey of foreign residents conducted by Sony Bank, 60% of respondents indicated that they were dissatisfied with banking procedures in Japan. The most cited reasons for this lack of satisfaction included complicated paperwork and procedures, the need for hanko seals, and a lack of language support.

When asked what services they would like from banks in Japan, the top response from foreign residents was the need for online banking and being able to conduct everyday banking transactions without having to visit the bank in person. Therefore, there is potential for Japanese banks to provide more user-friendly services aimed at foreign residents in Japan, with seamless English banking systems and support services.

Considering Japan's internationalisation and needs of the expatriate community, Sony Bank decided to establish a new English smartphone app that would take the hassle out of opening an account in Japan and allow account holders to make everyday banking transactions online.