February 25, 2016 12:00 pm JST

Challenge finalist: Moneytree (Japan)

Keeping one's household finances in order can be hard work. This is especially true in Japan, where most people have multiple bank accounts and credit cards but no easy way to view them all in one place.

     Moneytree has a solution for that problem: Its proprietary data aggregation platform, MT LINK, can acquire data from over 99% of Japanese banks, credit cards, digital money and customer loyalty programs.

     Moneytree launched the service in 2013 as an iOS app, which the company says has been downloaded more than a million times. By entering the information for their various accounts, users can see the whole of their finances -- from bank account information to credit card payments -- at a glance. And the service is free of charge.

     Moneytree recently introduced an Android app and a Web version. Its premium services include mobile-based expense reporting.

    Venture capital companies affiliated with Japan's three megabanks put money into Moneytree in October. And on Feb. 22, Mizuho Bank said it will incorporate the MT LINK platform to improve its smartphone app for online banking. 

CEO: Paul Chapman

http://www.moneytree.jp/

Twenty-four finalists will be chosen for Pioneers Asia Challenge, the main competition for advanced-stage startups. The Nikkei Asian Review will feature three finalists each week; this is the fifth week of the series and the first to feature entries from Asia. The two other categories of competition -- Pioneers 90 Seconds Pitch and Pioneers Showroom -- are for seed and earlier-stage startups.

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