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Finance

Japan joins global herd in fintech investment rush

Financial technology efforts such as e-payment services are garnering interest and global investment.

TOKYO -- Companies in the financial technology business are set to enjoy a record amount of investment this year, including capital channeled through specialty funds and institutions in Japan.

Investment in companies handling so-called fintech, or financial services using information technology to improve everything from payments to asset management, is poised to reach $24 billion worldwide in 2016, compared with less than $10 billion in 2014 and $19.7 billion in 2015. The figure is seen rising to around $46.1 billion in 2020 as startups drawing on advances in data processing and other technologies continue to fuel rapid growth in the field.

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