"Discount set itself a goal - to challenge the banking system"

Regulation does not hinder innovation but on the contrary, it helps enter new local markets. This was the underlying theme at the fintech panel at Calcalist and Discount Bank’s Israel-Japan Conference in Tokyo on Tuesday.

The panel, moderated by Calcalist journalist Omer Kabir included: Neta Kalmanson, Japan Market Manager at Nayax; Tsukasa Ojima, Executive Officer, Business Development and Branding, AEON; Takashi Mitani, CTO, GMO Payment Gateway; Masato Kaneda, Head of Innovative Startups Coordination Department at Mizuho Bank; Ryosuke Ushida, Chief FinTech Officer, FSA; and Shani Federman-Terem, Head of Business Development & Innovation, Discount Bank.

Kalmanson began speaking in fluent Japanese and said: "Since my studies at Osaka University I have had a dream to connect Israeli companies with Japanese companies and this conference shows me that there is a quality connection that begins here. Japan is an advanced and innovative country, but it needs innovative products and technologies."

Ojima, Executive Officer, Business Development & Branding at AEON said: "We have 48 million credit cards as the leading company in the fintech field in Japan. Israel is magical to us as a large finance company and we want to work with Israeli companies - not only in fintech but also in foodtech and in other significant areas. We have thousands of stores throughout Asia and we want to be the gateway for all Israeli companies that want to enter the Asian market."

What are the challenges that retailers feel following the pandemic?

"As a result of the situation, we have established various commercial centers and in these areas we utilize various technologies to predict future demand and also to predict significant consumer behavior and we have a large network."

Masato Kaneda, Head of Innovative Startups Coordination Department at Mizuho Bank, said: "We have a lot of faith in startup companies. We really want to help them integrate with us.”

Shani Federman-Terem, Head of Business Development & Innovation at Discount Bank noted that "Discount has set itself a goal - to challenge the banking system" and shared with the panel the innovative partners that the Discount group has created over the years. Paybox was the first - "We used to have to deal with cash, today we have Paybox which is much more than a digital wallet but a platform with a variety of financial services that helps customers in their daily management in a more convenient and efficient way."

Federman-Terem spoke about Greenlend, the joint venture that Discount recently announced together with Ezbob: "With Ezbob’s innovative technology together with the distribution channels and the bank's capital, the venture will offer advanced credit services in the configuration of embedded finance."

"Innovation is also in the DNA of the group and this can be seen in Cal's collaboration with fintech company Custodia," Federman-Terem said. "Cal has built an advanced payment platform on top of Custodia's infrastructure that allows it to offer advanced products and services. This partnership also won the Best PayTech Partnership Award for 2022." According to Federman-Terem, cannibalization is no longer a word to be feared, but should be embraced for growth.

Takashi Mitani, CTO, GMO Payment Gateway, one of the leading financial companies in Japan, said: "We make investments in private startup companies. The fields of contactless payments are very significant in this country. We provide various solutions in the field. Israeli startup companies have advanced capabilities in the cyber field and we want to work with them more closely. Ryosuke Ushida, Chief FinTech Officer at FSA, which is the regulatory authority in Japan, said that some people think that innovation is the opposite of regulation and our legal team helps startup companies on their way to the local market. We have the bridge to connect our companies in Japan with the startup companies."