#Japan #Okayama #Money Forward X #BANK Biz #Chugoku Bank

Money Forward X Unveils 'BANK Biz' Series

Money Forward X Inc. has announced an innovative service platform called 'BANK Biz' aimed at empowering corporate business for regional financial institutions. The series includes the business portal service 'BANK Biz', a mobile app for executives named 'BANK Biz APP', and an operational service geared for financial institutions called 'BANK Biz Operation'. The first collaboration partner for this initiative is Chugoku Bank, with a planned launch for businesses set for autumn 2026.

Background of Service Development

Amidst a backdrop of declining populations and aging demographics, regional economies are witnessing significant change. Financial institutions are increasingly called to provide support to businesses, particularly as the challenges they face become more diverse; there is a growing expectation for multi-faceted management assistance alongside capital supply. However, many institutions are struggling with severe staffing shortages, making it difficult to provide comprehensive follow-up and meet the varied needs of small to medium-sized enterprises.

To address these challenges, there has been a push to promote the use of corporate internet banking, which has furthered the digitalization of corporate sectors. However, traditional corporate internet banking systems have primarily been optimized for PC use, limiting accessibility for busy executives who typically engage with such services less directly, through their accountants.

Consequently, rapid growth in cloud services is prompting financial institutions to enhance operational efficiencies, convenience, and security measures to meet the demands for single sign-on (SSO) support in corporate internet banking systems.

Money Forward X has consolidated its years of expertise and technology in the development of corporate services to solve these issues. 'BANK Biz' series aspires to create a unified platform that digitalizes complex procedures in corporate transactions, supports management centered around cash flow, and bolsters sales and marketing through data utilization.

Collaboration with Chugoku Bank

Chugoku Bank is set to be the first partner for the 'BANK Biz' series. The bank aims to reform its business processes by transitioning 90% of transactions to non-face-to-face communications in the near future. This involves a focus on digital utilization and the conceptualization of next-generation channels. Continuous discussions regarding the future of digital services have aligned both organizations in upgrading customer experience (CX) and a strategic partnership on the 'BANK Biz' series.

This unique collaboration is expected to enhance operational efficiency while broadening the revenue opportunities for partner financial institutions by delivering highly efficient digital services to businesses.

Overview of the 'BANK Biz' Series

The 'BANK Biz' series provides a new corporate platform tailored for regional financial institutions. It includes the business portal 'BANK Biz', the executive mobile app 'BANK Biz APP', and the financial institution service 'BANK Biz Operation'. This comprehensive offering allows banks to streamline corporate business efforts while ensuring a widened scope of revenue potential.

Service Highlights

1. Business Portal Service 'BANK Biz': Provides basic access free of charge for businesses, offering several financial services and personalized management support online.
2. Mobile App for Executives 'BANK Biz APP': Designed for busy executives, facilitating easy access to key features of 'BANK Biz' while on the go, creating direct digital touchpoints between banks and business management.
3. Service for Financial Institutions 'BANK Biz Operation': A service aimed at digitizing customer management, contract management, and marketing for financial institutions leveraging insights from 'BANK Biz' users.

These services enable financial institutions to enhance overall customer experience by meeting a variety of business needs effectively.

Key Features and Functionalities

The 'BANK Biz' series is equipped with distinctive features such as:

• - Maximizing revenue opportunities through optimal management support for businesses.
• - Providing an integrated platform that digitalizes all financial services.
• - Strengthening engagement with executives via the mobile app.

Future Developments

In addition to continuous functionality enhancements aimed at sustaining revenue growth through digital and face-to-face engagements, the series will explore customized data analytics for personalized marketing and the introduction of new management support tools and financial solutions for businesses. The objective is to enrich the experience of corporate customers in all digital services through seamless single sign-on integration.

As Money Forward X enhances service deployment, it remains dedicated to its mission: 'Together, bringing finance closer to everyone.' Through supporting the resolution of challenges faced by both regional financial institutions and businesses, the company aims to contribute to the comprehensive development of the local economies.