Tokyo Financial Award, Financial Innovation Category: 5 financial companies have passed the initial screening

As one project in the “Global Financial City: Tokyo” Vision, the Tokyo Metropolitan Government (TMG) is hosting the “Tokyo Financial Award.” Since last year, the TMG has been granting a prize to financial companies who provide and develop innovative products and services that meet Tokyo citizens’ needs and challenges, as well as financial companies who work to promote ESG investments(*1).
Based on the needs and challenges Tokyo residents feel daily regarding financial services, 25 themes were decided on for the Financial Innovation category. From July 16th to August 23th, we welcomed applications from both Japanese and foreign financial companies who offered solutions that aligned with these themes.
As a result, we received applications from 80 financial companies across 17 countries and regions (including Japan). We are pleased to announce the five financial companies that were selected in the initial screening.

(*1) ESG (“Environment, Social, Governance”) refers to investment decisions based on an institution’s proactive efforts in combating global warming, empowering women, selecting outside directors, etc.

1　Financial companies(in alphabetical order) and Overviews of their Businesses

Company	Country/Region	Theme	Company Overview
FINPLANET, Inc.	Japan	Others Want to have a new financial service in preparation for the coming age in which life expectancy will average 100 years	Provides Robo-Advisory service dedicated for fairness and neutrality.
Fly Money Technologies LTD.	Israel	Payments Too many different types of e-money makes it a hassle to use	Fly Money helps travelers pay like locals, by providing tourists the local currency solutions - local mobile wallets, local cash or prepaid cards - according to their vacation destination and origin.
400F Co., Ltd.	Japan	Asset Management Want advice on asset management products that is suitable for the respective customer from a neutral perspective	Provides the matching platform aimed to relieve users’ financial stress with the help from registered financial planners or IFA（Independent Financial Advisor）.
Frich,Inc.	Japan	Insurance Want a service that allows insurance sharing	Selling lawyer fee insurance with help calls related to traffic accidents and bicycle accidents that occur when commuting to work or school.
Infcurion Group,Inc.	Japan	Deposits & Withdrawals Want a simple and low-cost app for making transfers	A business development group focused on the financial and payment fields. Through providing the Saas (*2) platform and supporting businesses to be digital transformed (*3), they promote the realization of a cashless society.

(*2) Abbreviation for “Software as a Service”. It means service forms that provide application functions via the Internet.
(*3) Creating value through new products and services, new business models that using cloud and mobility, and establishing competitive advantage.

2　Support Program

Five financial companies mentioned above will receive support program (mentorship program, business match opportunities, and office space for solution development).
Final screening will take a place to decide the ranking of these five financial companies, and three financial companies be recognized.
Award ceremony details to be announced later.

3　Schedule

Please see Tokyo Financial Award website for details