Message from Governor Kuroda on the occasion of the establishment of the FinTech Center

April 1, 2016

FinTech is gaining considerable attention in recent years as it applies new technologies -- including those of information and communications -- to innovative financial services.

Considering that finance is closely associated with information,  developments in information technology and its application can broaden the frontiers of financial services.  In addition, such developments have the potential to improve the efficiency of financial services, and further bring a wide range of benefits to the economy as a whole through promoting new economic activities.

In order to bring new products and services to life, the interaction of knowledge and creativity is extremely important.  To foster FinTech and maximize its contribution to the economy as a whole, constructive and interactive communication among a wide range of players, including those affiliated with traditional finance industry and academic community, is required.  Bearing this in mind, the Bank today established the FinTech Center within its Payment and Settlement Systems Department.

The Bank aims to reinforce its efforts in which the developments of FinTech will contribute to enhancing financial services and achieving sustainable growth of Japan's economy.  The Bank will also endeavor to play an active role as a catalyst for promoting interaction among financial practices and innovative technologies, research and study, and the needs of the economic society.  The Center will serve as a hub for such interaction.  I hope that a wide range of parties involved in financial innovations and FinTech will give support to and take full advantage of the Center's activities.

Haruhiko Kuroda
Governor of the Bank of Japan