Rakuten Group aims to integrate bank, fintech units

RAKUTEN Group plans to integrate its fintech businesses into one group, it said on Monday, aiming to strengthen collaboration and customer acquisition across areas from online banking and credit cards to securities and insurance.

Rakuten Group and Rakuten Bank entered into a memorandum of understanding on the re-organisation, which is set to take effect in October, the companies said in statements.

Rakuten Bank would continue to be listed on the Tokyo exchange after the integration, they added.