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Abstract:Monex will offer asset management services to the lender's clients. The new structure's functions are anticipated to begin in January 2024.
Monex Inc, located in Tokyo, has announced the completion of a contract with AEON Bank for cooperation in the financial instruments intermediary sector.
The two corporations are now seeking government clearance to begin offering services under the new framework in January 2024.
According to the deal reached on Tuesday, Monex will offer asset management services to AEON Bank clients. By using Monex's capabilities, the Tokyo-based lender will also intend to produce new goods and a varied product selection. It was said that the cooperation will increase AEON Bank's product and service offerings, including mutual funds, from 300 to 1,200.
“By entrusting Monex with system administration and back-office operations connected to the asset management business, AEON Bank will be able to move management resources to improve and increase the quality of its services for higher customer satisfaction,” according to the official release.
Through a corporate separation, the lender will transfer the rights and duties of its clients' mutual fund accounts to Monex. Customers of AEON will also get assistance from both the lender and Monex.
“After the Partnership goes into force, AEON Bank will continue to market mutual funds as a financial products brokerage agent commissioned by Monex, while Monex will execute client transactions and maintain customer accounts,” according to the release.
Partnership Expansion Is Expected
The two financial service providers will collaborate to create and evaluate new products and services that will enable clients to simply begin asset management. The goal is to lower the asset management entrance barrier so that users may acquire mutual funds in modest quantities using AEON-issued credit cards.
Furthermore, the two firms will investigate the possibility of enabling AEON consumers to invest using credit card points.
“Monex and AEON Bank will continually analyze the Partnership's prospective options, like as collaborative marketing initiatives, to further promote customers' asset creation that improves their lives,” according to the release.
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