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September 21, 2017
Financial Services Agency
(English version: published November 4, 2022)

Establishment of the FinTech PoC Hub

  The Financial Services Agency (FSA) has established the "FinTech PoC Hub" (the “Hub”) to remove hesitations and concerns that FinTech companies and financial institutions tend to have when conducting unprecedented Proof-of-Concept experiments.
The Hub provides ongoing support by forming a team within the FSA for each experiment to address issues that FinTech companies and financial institutions wish to resolve through the experiment (e.g., practical issues related to interpretation of laws and regulations that may arise when providing services to the general public).

How to Apply and the Flow After Application

The FSA will determine whether or not it is possible to provide support for the application in light of the following checklist.
If you would like to apply, please send a document explaining the following checklist items to the email address for the Hub（pochub@fsa.go.jp）.
 
[Checklist]

  1. Clarity of the experiment and the issue (Clarity)
  2. Expected increase in user convenience and corporate productivity in Japan as a result of the realization of the service (Social Benefit)
  3. Recognized innovativeness in the service being realized (Innovativeness)
  4. Appropriate measures for user protection, including explanations to users, in the case that general users participate in the experiment (User Protection)
  5. Resources, including funds and personnel, necessary to conduct the experiment (Feasibility of Conducting the Experiment).

 
Even in cases where the above checklist items are met, if a large number of applications are received at the same time, we may give priority to certain projects, taking into consideration the nature of the project and the applicant (e.g., the universality of the product or service, the number of people expected to benefit from it, and its contribution to improving the Japanese financial system and the level of the financial services).
 
The Hub staff will contact you regarding the results of the decision on whether or not we can support your experiment.
 
If you have any questions or concerns, please contact the Hub, FinTech and Innovation Office, Strategy Development and Management Bureau.

Office hours: Weekdays from 9:30 a.m. to 6:15 p.m. (JST).
E-mail: pochub@fsa.go.jp　

Notes

  • Interviews, etc. may be conducted for applications as necessary.
  • For projects supported by the Hub, the names of individual companies and a summary of the project (excluding sensitive information related to business ideas, etc.) will be made public on the FSA website after consultation.
  • In addition, after the completion of the experiment, the results and conclusions of the experiment, including compliance and supervisory issues, and practical issues related to the interpretation of laws and regulations that may arise when providing services to general users, will be made public on the FSA website after consultation, taking into consideration the timing of publication, sensitive information related to business ideas, and other factors.
  • Please note that the Hub does not exempt any application of existing laws and regulations.
               

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