Question 1

What is UI Bank?

Accepted Answer

UI Bank is a digital bank headquartered in Tokyo, Japan. It is a smartphone-specialized financial institution that operates without physical branches, focusing on providing accessible digital banking services to individual customers. UI Bank is a wholly-owned subsidiary of Tokyo Kiraboshi Financial Group, positioned as a key player in the group's digital transformation strategy.

The bank serves personal banking customers across Japan with an emphasis on combining digital convenience with personal service through its parent company's network.

Question 2

When was UI Bank founded?

Accepted Answer

UI Bank was founded on October 30, 2020, originally under the name "Kiraboshi Digital Bank Establishment Preparatory Company." The bank changed its name to UI Bank on December 3, 2021, after successfully completing preliminary regulatory review.

The bank obtained its official banking license from the Financial Services Agency on December 17, 2021, and began banking system operations on January 4, 2022. Customer-facing services officially launched on January 17, 2022, when the smartphone application became available to the public.

Question 3

Where is UI Bank headquartered?

Accepted Answer

UI Bank is headquartered in Minato-ku, Tokyo, Japan. The main office is located at 3-10-43 Minamiaoyama, Minato-ku, Tokyo 107-0062.

The bank's location in Tokyo positions it at the center of Japan's financial and business hub, though as a digital bank, it serves customers throughout Japan regardless of their physical location.

Question 4

Where does UI Bank operate?

Accepted Answer

UI Bank operates throughout Japan as a digital-only bank. While it has no physical branch network of its own, customers can access banking services nationwide through the mobile app and ATM partnerships.

The bank has established ATM alliances with multiple networks including Kiraboshi Bank, Seven Bank, Lawson Bank, E-net, and Japan Post Bank. This extensive ATM network allows customers across Japan to conduct cash transactions.

Question 5

What services does UI Bank offer?

Accepted Answer

UI Bank offers personal banking services including deposit accounts, savings products, time deposits, and payment services. The bank provides internet banking and mobile app-based services for account management, transfers, and bill payments.

Digital services are central to UI Bank's offering, with features including smartphone ATM functionality (eliminating the need for physical cards), online account opening, and integration with household budget management apps like MoneyForward. The bank also offers investment trust sales, insurance products, and financial planning tools through its digital platform.

The bank maintains a hybrid service model, allowing customers who need in-person support to access Kiraboshi Bank branches for consultation.

Question 6

What makes UI Bank unique?

Accepted Answer

UI Bank stands out for its hybrid approach that bridges digital and in-person banking. Unlike pure internet banks, UI Bank maintains a connection to Kiraboshi Bank's physical branches, enabling customers to receive face-to-face consultation when needed while enjoying digital convenience.

The bank name "UI" represents "You and I = Us," emphasizing human connection despite being a digital platform. The bank utilizes a cloud-based banking system developed by SBJ DNX, making it one of the first Japanese banks to adopt this technology architecture.

UI Bank specifically targets customers who are comfortable with smartphones but may not be fully confident with traditional internet banking, including older demographics. The bank aims to achieve 270,000 to 300,000 accounts within three years of launch.

Question 7

What type of financial institution is UI Bank?

Accepted Answer

UI Bank is a digital bank (デジタルバンク), a specific category of internet-only bank under Japanese banking regulations. It holds a full banking license under Article 4, Paragraph 1 of the Banking Act and is regulated by the Financial Services Agency.

As a digital bank, UI Bank differs from traditional internet banks by emphasizing non-financial services alongside banking functions, positioning itself as a lifestyle platform. The bank is a member of the Tokyo Kiraboshi Financial Group and maintains accounts with the Bank of Japan, operating as a legitimate deposit-taking institution with deposit insurance coverage.

UI Bank

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About UI Bank in Japan