NEC establishes FinTech Business Development Office to expand financial technology business worldwide
Tokyo, March 29, 2016 - NEC Corporation (NEC; TSE: 6701) today announced the establishment of a FinTech Business Development Office on April 1 in order to drive the digital innovation of financial services. This office will be established within NEC's Business Innovation Unit, where it aims to drive growth by promoting business model innovation.
The FinTech Business Development Office will begin operations with approximately 20 staff and pursue business opportunities worldwide in collaboration with companies spanning all business sectors and reaching across markets such as North America, Singapore, India and Europe. The Office will subsequently expand in stages.
The FinTech Business Development Office will articulate NEC's cross-organizational FinTech (Financial Technology) business strategy and promote new business through open innovation. In this way, NEC aims to offer FinTech services that address important social issues such as financial inclusion and cyber security.
Moreover, NEC plans to leverage its technologies for biometric authentication, security, "blockchains" (digital records of asset ownership), Artificial Intelligence and system integration capabilities.
In addition, the Office will closely collaborate with the NEC Design Center (established in April 2015), which develops solutions for promoting NEC's social solutions business.
About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.
Based on its Mid-term Management Plan, the NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, please visit
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