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Suga digitization push to put all financial filings online by 2022

Japanese banks and insurers still submit vast majority of documents on paper

Tokyo skyscrapers. Japan's banks will move to more digitalization under Prime Minister Suga's plan.   © Reuters

TOKYO -- Japan will move all applications and filings from banks, insurance companies and other financial institutions online by the end of March 2022 under Prime Minister Yoshihide Suga's push to digitize the government.

Japan lags in embracing digital forms, particularly in its financial sector. In contrast, the U.S. let small businesses file for federal coronavirus relief loans online. The U.K. allows a wide range of documents to be submitted online through the FCA Connect platform.

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