"Banks all over the world offer financial services through mobile phones, but few have taken the concept as far as Jibun Bank.
The Japanese financial company has designed its services so customers can handle their finances exclusively by phone. Analysts say the model has pushed the mobile channel about as far as it can go, but they add that it would be a poor fit in most other markets, including the United States.
Started in June 2008 as a joint venture between Mitsubishi UFJ Financial Group Inc. and the Japanese telecom company KDDI, the Tokyo bank has attracted 700,000 accounts and 10 billion in Japanese yen deposits — about $112 million — and it has a target of 2.4 million accounts and deposits of 1 trillion yen (about $11.2 billion) by its third year of operations." >> Continue Reading
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