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METI calls for opinions and information on FinTech

METI has held 10 meetings of Study Groups on the Integration of Industry, Finance and IT (Study Group on FinTech), in consideration of global trends and to exchange views on the challenges in undertaking related policies and measures. This is an official call by METI for information on each issue from a variety of experts in the global community, in order to further deepen the analysis and research on the issues from a broader perspective.

1.Background

In recent years, we have seen a movement towards providing innovative financial services using technologies including IoT, big data, and artificial intelligence, which is called “FinTech”.
Note: “FinTech” is a term combining “Finance” and “Technology.”

At the meetings, the study group held dialogues with a variety of players and experts in the fields surrounding FinTech, and advanced discussion in an omnibus form in which participants were not fixed members but rather invited according to particular subjects to be covered at each meeting, so that the study group would be able to examine and grasp the big picture of the current trends in the field from multidirectional perspectives.
The Study Group discussed how FinTech does not merely promoted the development of IT in financial services but also has a large impact on society by applying pressure for the change in the industrial structure or system and broadening the opportunities for users to enjoy financial services for consumers.

Eleven issues were identified in the Study Group. Therefore, METI calls for further information and opinions on these issues in order to further deepen the relevant analysis and research from a broader perspective.

2.Providing information

This is an official call by METI for information and opinions on the issues in 11 focus areas.

  • Closing date:May 23, 2016
  • Submitting information:Please send relevant information via e-mail or post.
    Note: Please refer to Appendix for the details on the issues of past discussion and submitting information.

3.Project plan

Further deepening discussion and analysis (to be reinforced by the opinions and information submitted), the Study Group will formulate a final report by early summer of 2016. Note: Please refer to Reference1 illustrating the project plan.

Appendix

Reference

Release date

April 21, 2016

Division in Charge

Industrial Finance Division, Economic and Industrial Policy Bureau

Related Information

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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