Sony Moves on Internet Bank, With Eye Toward Future Synergies
Sony in late January applied to Japan's Financial Services Agency to obtain a preliminary judgement for a banking license as a part of its plans to establish an Internet bank, first announced in March 2000. Operation is slated to begin in June 2001.
Sony's intial goal is to provide personal banking services—such as yen-deposit accounts, investments trusts, card loans and bank payments—leveraging the "special merits of the Internet." The Internet bank also will offer foreign currency deposit accounts, a credit card business and housing loans.