Tokyo Financial Award mentoring programme
The HolyWally team is just back from Japan, having enjoyed two events as guests of the prestigious Tokyo Financial Award Mentoring Programme.
The programme looks at how technology can solve the financial needs and concerns of Tokyo residents and enterprises.
HolyWally is one of 15 selected out of the 108 who applied for the award. Some 26 countries and regions were represented by the original applicants.
The 15 were selected for their unique ideas and cutting-edge technology.
HolyWally co-founder Veljko Vasic (Vel) and product manager Sandeep Singh attended two days of activities.
Vel said: "We were made to feel very welcome in Tokyo and we greatly enjoyed the opportunity to meet the people behind these superb awards. It is wonderful to see a city so determined to use tech to help its residents and companies in such a positive way. I was very happy to outline how digital wallets bring convenience and flexibility into people's lives."
The four-month support programme started last month and the companies receive mentoring, business matching opportunities and support for overseas promotion.
The programme ends with the selection of three winners who will be awarded in February 2023 with three prizes:
- 1st prize: 10,000,000 JPY;
- 2nd prize: 5,000,000 JPY;
- 3rd prize: 3,000,000 JPY.
The Tokyo Metropolitan Government
The idea behind the awards is that The Tokyo Metropolitan Government (TMG) collaborates with the national government, the private sector, and others, to advance initiatives that will revitalize the financial sector. The key objective is to win back Tokyo’s position as the top global financial city in Asia.
This was how the Tokyo Financial Award mentoring programme was born in 2018, as part of the “Global Financial City: Tokyo” Vision.
TMG grants prizes to financial institutions who provide and develop innovative products and services that meet Tokyo citizens’ needs and challenges, as well as financial institutions who work to promote ESG investments.
There are three key goals of the Tokyo Financial Award mentoring programme, which is divided into two categories (Financial Innovation and ESG Investment):
- enhance the presence of Tokyo as a global financial city;
- revitalize the financial sector;
- improve convenience for the residents of Tokyo.
Accenture is in charge of the planning and organizing of "Tokyo Financial Award" for FY 2022.
TMG published the outline of its ambition on its website:
“We use many financial services in our day-to-day life, using e-money to take trains, withdrawing money from ATMs at convenience stores, or taking out life or auto insurance. If you have interests in investing, you may also be investing in stocks or investment trust funds.
“Have you ever felt that it would be even better if it was just a little more convenient, or that?
“In addition, financial institutions that provide their respective financial services are constantly striving to improve their services and streamline their operations.
“For the Financial Innovation Category, Tokyo residents and businesses are invited to submit any dissatisfaction they feel, or requests they have regarding the BtoB or BtoC services in Tokyo, or services they wish. Tokyo Metropolitan Government will choose the theme to be resolved from these applications, and ask domestic and foreign financial companies offering relevant solutions to apply for."