Hokkaido Electric Power announced on 30 September the launch of Hokuden BANK, a banking service that can be used entirely by smartphone, with the app service to begin on 14 October. Using the platform of UI Bank, a subsidiary of Tokyo Kiraboshi Financial Group, the service will offer deposits, loans, payments and other services.
Hokkaido Electric Power announced on 30 September that it would enter the banking-services market through smartphones. The Hokuden BANK smartphone app will launch on 14 October, and the company is also considering rewards for customers.
The service is designed to allow customers to complete everything from opening an account to deposits, payments and home mortgages on a smartphone. Deposits and withdrawals will also be available through ATMs operated in partnership with convenience stores. By using the UI Bank platform, Hokkaido Electric Power will begin providing the service under a banking agency licence.
Members registered with Hokkaido Electric Power's Hokuden Enemall service can receive up to 10% back in Enemo Points when paying electricity and gas bills, receiving salaries or using loans. The points can be applied to electricity-bill payments and other uses.
Executive Officer Hiroyuki Suzuki (鈴木博之) of Hokkaido Electric Power said the company valued UI Bank's flexibility and rapid response in the partnership and indicated that it aims to create synergies between electricity and gas contracts and banking services. UI Bank President Nobuyuki Yasuda (安田信幸) said that serving as the infrastructure provider behind non-financial businesses would help expand its customer base and increase deposits.