Top 10 Fintech Innovation Labs | 8: FINOLAB
Calling itself the ‘fintech centre of Tokyo’, FINOLAB is committed to creating a financial ecosystem for no smaller purpose than instituting a digital revolution. Noting that financial services form the bedrock for so many aspects of modern life (mortgages, savings accounts, digital transactions, etc), the ethos of FINOLAB has been to foster innovation and creativity in the community in order to make Japan’s sector amongst the best in the world. The organisation’s ambitious aim is for one ‘unicorn’ (a startup venture with a valuation of $1bn) to emerge from its services and to establish a new standard of fintech excellence.
Aside from being featured in our top 10 fintech innovation labs, FINOLAB was also a featured company in May’s edition of FinTech Magazine, where we exclusively interviewed Makoto Shibata, CCO, Head of FINOLAB.
“In 2017 fintech investments into startups in Japan reached US$105mn, in 2018 it rose to US$542mn, which is about 1% of the global figures, and it is continuing to grow.”
- Makoto Shibata
He continues to discuss in-depth the company’s efforts in supporting startups, and how they are disrupting the fintech industry. You can read the full article and interview here.
Makoto Shibata is currently in charge of FINOLAB community operation. In his former position at The Bank of Tokyo-Mitsubishi UFJ, he was leading R&D initiatives in emerging technology and online/mobile financial service. He also held positions in corporate planning, accounting, corporate finance and retail customer services at the bank. He is one of the founders of FINOVATORS and Executive Fellow at Japan Digital Design. He holds a Bachelor of Economics from University of Tokyo and a Master of Science in Development Economics from University of Oxford.