New Economy Summit 2016 新経済サミット2016

Hi Everyone!


On Friday I had the opportunity to attend a conference about trends within the fintech industry in Japan and around the world. The name of the summit was the New Economy Summit and was held at the New Otani Hotel in Tokyo (very beautiful hotel!!)


As the main point of this entry is not to go into detail about each specific speaker at the end, I will just briefly mention the events I participated in.


The first session was a discussion between a few entrepreneurs who run fintech companies related to electronic payments, accounting software, creating ETF portfolios for users etc. The speakers mentioned that IT companies should not seek to compete with traditional financial institutions but try to work together with them. More than anything, I found it surprising how apparently 77% of Japanese companies still go to a bank branch to transfer money etc. How inefficient is that?!


The second session was more interesting for me. It was a discussion between three entrepreneurs from the US who each work at 1. a factoring company (company which purchases invoices from businesses), 2. a consumer lending company and 3. a company which offers its lending platform to established businesses in the US.


Interesting points about each company:

  • 1. the factoring company has issued $15 billion in payments so far;
  • 2. the consumer lending company lends money at an average of 29~30% per annum;
  • 3. many businesses in the US have a lot of data on their customers and can lend directly to them via #3’s platform.


  • 1の会社はすでに150億ドル(約1.6兆円)の実績があること、
  • 2の会社は平均して年利29~30%で貸し出すこと、
  • 3の会社のプラットフォームを使って直接自分の顧客に融資する会社があることです。

There are several things which I took away from the event:

  • 1. You get a lot of interesting, diverse and timely information at these events;
  • 2. You get to put your own company and industry into perspective by listening to other speakers;
  • 3. You get an insight into the possibilities which exist in overseas markets.


  • こういう大会に参加することによっていろんな面白くてタイムリーな情報が手に入る、
  • 講師の話を聞いて、自分の会社だけでなく自分の会社が携わる業界を客観的に見ることができる、
  • 海外のフィンテック会社の方の話を聞いて、海外の市場にある潜在的な可能性を垣間見ることができる。

I am going to attend an event on 27 April on the alternative finance industry in East Asia in Nagoya as a speaker. By interacting with key players in this industry both from Japan and abroad, I look forward to learning many things, just as I did on Friday!