March 27, 2016 11:36 pm | Updated October 18, 2016 02:56 pm IST
Bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan. File photo.
A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan.
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