Taking On New Business Domains by Leveraging AI and Fintech
ITOCHU continues to take on challenges in new business domains through its fusion of ICT, which excels in deploying new technologies and business models, and the financial services and insurance business, whose forte lies in the retail business. We are focusing in particular on the fields of fintech (finance + technology) and artificial intelligence (AI), as we proactively promote venture investments in Japan and overseas.
In FYE 2017, ITOCHU entered a capital alliance with MYDC, which operates and administers individual-type defined contribution pension plans (iDeCo). We also formed a capital alliance with Exchange Corporation, which uses AI to provide an asset investment proposal service and offers the Paidy online settlement service, entering a personal finance and cardless settlement business based on credit scoring. In the business process outsourcing (BPO) field, ITOCHU, BELLSYSTEM24 Holdings, and NTT DATA entered a capital alliance with SOLAIRO, which uses AI technology to provide a Web-based customer interaction service.
In 2017, we established the new Fintech Development Section within the ICT & Financial Business Company. This office will take the lead in the creation of advanced financial services that leverage technology and entry into new markets by combining the ICT Division’s business development functions with the customer network and expertise of the Financial & Insurance Business Division.