We, Japanese Bankers Association (JBA, Chairman: Nobuyuki Hirano (President & Group CEO, Mitsubishi UFJ Financial Group)) are pleased to announce that Memorandum of Understanding (MOU) and Non-binding Cooperation Agreement on FinTech were signed between UK Finance* (Chairman: Bob Wigley) and JBA on November 16, 2017.
While UK Finance and JBA have established close cooperative relationship through a wide range of activities, signing these documents is expected to lead the relationship to the next level and promote information sharing and mutual cooperation about FinTech between both bankers associations.
We hope that the newly established framework will further enhance our overall relationship and enable both associations to contribute to promoting innovation in financial services in respective markets.
* UK Finance is a new trade association which was formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.