SINGAPORE/TOKYO -- Sumitomo Mitsui Financial Group will expand its "embedded finance" business in Southeast Asia, partnering with Microsoft to provide financial services to digital platforms in other sectors.
Sumitomo Mitsui will use Microsoft's cloud technology and expects to expand its partnerships with burgeoning fintech players in the region. Executives with the Japanese megabank and the U.S. tech giant told Nikkei Asia that the companies may seek to co-invest in promising fintech startups in Southeast Asia.
