Japanese Megabanks Launch Digital Services for Small Businesses

Japan's megabanks have launched digital financial services for small and medium-sized businesses to increase lending and revenue amid interest rate hikes by the Bank of Japan.

Sumitomo Mitsui Banking Corp. (SMBC) has developed Trunk, a service primarily for SMEs, which allows users to carry out accounting operations from a smartphone, including paying bills, and informs users about government subsidies through artificial intelligence.

As of July 2026, the number of Trunk accounts exceeded 90,000. SMBC also announced lower fees for transfers to other banks and added an option for companies in Tokyo to apply for loans guaranteed by credit guarantee associations.

Mizuho Bank has launched Upsider Bank, which uses artificial intelligence to assess loan applications and provides support for companies from the startup stage through the growth phase. Mizuho plans to issue a cumulative ¥500 billion in loans through Upsider Bank and attract 100,000 accounts by fiscal year 2030.