Tokyo aims to be top global financial city in Asia

Tokyo is determined to be Asia’s leading global financial city.

Leading the push is the Tokyo Metropolitan Government (TMG). It collaborates with the national government, the private sector and key institutions to advance initiatives that will revitalize the financial sector.

The city has a strong belief that financial services is there to help make life easier for its residents and companies. This is why the Tokyo Financial Award Mentoring Programme was created in 2018 as part of the “Global Financial City: Tokyo” vision.

It grants prizes to financial institutions who provide, and develop, innovative products and services that meet Tokyo citizens’ needs, as well as financial institutions who work to promote ESG investments.

Accenture is in charge of the planning and organizing of “Tokyo Financial Award” for 2022.

TMG published the outline of its ambition on its website: “We use many financial services in our day-to-day life, using e-money to take trains, withdrawing money from ATMs at convenience stores, or taking out life or auto insurance. If you have interests in investing, you may also be investing in stocks or investment trust funds.

“Have you ever felt that it would be even better if it was just a little more convenient, or that? In addition, financial institutions that provide their respective financial services are constantly striving to improve their services and streamline their operations.”

HolyWally is doing its part to help the effort. It has been invited to present ideas on how digital wallets can play a key role, selected as part of this year’s Tokyo Financial Award Mentoring Programme. It was one of 15, chosen out of 108 applicants. Some 26 countries and regions were represented by the original applicants.

The 15 were selected for their unique ideas and cutting-edge technology to solve the financial needs and concerns of Tokyo residents and enterprises.

Three eventual winners of the awards will be chosen in early 2023.

HolyWally co-founder Veljko Vasic (Vel) and product manager Sandeep Singh have just met the Tokyo Financial Award mentoring programme team, participating in two days of events.

Vel found the trip insightful: “It was fun being there, meeting the team behind the awards, and the other companies that had been chosen like us. We were able to give our presentation on digital wallets and show how we could contribute to the city’s goals.

“And the chance to meet the other companies was great. You learn a lot from these sort of conservations and from seeing how the various teams cope with the briefs and challenges.

“It has been a privilege to be involved in these awards and wish the eventual winners the very best in helping Tokyo achieve its aims.

“From what I saw on this trip, the city has a very progressive attitude when it comes to financial services and its great to see how it is working hard for its citizens and companies.”

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HolyWally is the world’s first wallet-as-a-service platform that combines adaptability, rapid scalability, and optimized user-experience.