Sumitomo Mitsui Banking Corporation Joins Plug and Play FinTech

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Leading Japanese bank partners with Plug and Play to get an early look at FinTech Startups.

Sumitomo Mitsui Banking Corporation, a prominent Japanese bank, has partnered with Plug and Play’s Financial Technology and Security Platform of Innovation. The strategic partnership between Sumitomo Mitsui Banking Corporation and Plug and Play FinTech will provide startups with the support they need to further transform the world of financial technology.

“As the world of banking is becoming more personal, local, and social, it is a very exciting time to be active in financial technology sector. We are delighted to announce our partnership with Sumitomo Mitsui Banking Corporation, who will leverage their authority and understanding in the field of finance, to help guide our FinTech Accelerator Program,” said Saeed Amidi, Founder and CEO of Plug and Play.

Plug and Play FinTech was founded in an effort to optimize the current transformation of financial services by empowering entrepreneurs through a process of introductions, mentorship, and exclusive access to experienced investors and innovators. With previous investments in the industry, including companies like Paypal, Lending Club, and Credit Sesame, Plug and Play seeks to work with startups focused on mobile payments, banking, security, and authentication.

“Our group is seeking innovative financial services using technologies, to provide services of greater value to our customers,” said Katsunori Tanizaki, Senior Managing Director of Sumitomo Mitsui Banking Corporation and Director of Sumitomo Mitsui Financial Group. “Partnering with Plug and Play and their vast network of the partners will give us opportunities to work with innovative companies.”

Plug and Play has created a global platform with strategic partners worldwide. They work with stage-agnostic startups that are leveraging the most innovative solutions and disrupting the status quo.

For more information on Plug and Play’s Financial Technology & Security program, visit: http://www.plugandplayaccelerator.com/fintech

About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Dropbox, Lending Club, PayPal, and SoundHound.

About Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation (“SMBC”) is a global financial services group and one of the largest commercial banks in Japan. SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc. (“SMFG”). The companies of the Sumitomo Mitsui Financial Group (SMFG) primarily conduct commercial banking through the following financial services: leasing, securities, consumer finance, system development and data processing.

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Allison Romero
@PlugandPlayTC
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