Sony 2003 Annual Report Download - page 45

Sony Bank
Sony Bank Inc. provides highly convenient financial products and services over the Internet, employing
MONEYKit, its investment and asset management tool.
One of the products that capitalizes on Sony Bank’s online uniqueness is its U.S. dollar and euro
foreign currency deposit option, which narrow s the gap between individuals and financial markets.
In principle, exchange rates are revised each time market rates move by approximately 0.1 yen and
foreign exchange commissions are set at the low level of only 0.25 yen for each one-way
transaction. Furthermore, as a general rule, customers can perform transactions over the
Internet 24 hours a day 365 days a year. In July 2002, Sony Bank rolled out its foreign
exchange chart service to give customers even more assistance in managing their foreign
currency deposits.
Sony Bank’s housing loan, which has gained
attention as Japan’s first housing loan requiring
no visit to a bank branch, employs the Internet
to maximize convenience. Customers can go
online to apply for loans, borrow money, make
early payments, alter interest rate plans and
conduct other tasks.
Sony Finance International’s Internet Payment Processing Initiatives
Payment processing is a vital component of any infrastructure that enables
services, such as content download, to be provided over a network. Sony Finance
International, Inc., the Sony Group’s credit arm, is a very active player in this
realm of business.
Sony Finance developed the eLIO payment processing service to facilitate safe
and simple purchasing of goods and services over the Internet w ith a credit card.
To protect credit card information from theft, the service requires no manual input
of a credit card number to complete a transaction. In April 2002, the company
began issuing a My Sony Card that has all three of the following payment processing
capabilities: VISA, eLIO and the Edy prepaid electronic money service of bitWallet,
Inc., a company owned by Sony Corporation, Sony Finance and other investors.
The eLIO brand is being co-branded with a growing variety of other cards. An
airline mileage card and a campus pass that doubles as a student ID card are just
some of the cards that have been issued. Sony Finance w ill continue to look
beyond conventional credit card functions to lead the w ay in creating a
“ community card” that meets the shared interests and needs of consumers in
the networked society.
SERVICES/APPLICATIONS
Accounts and Deposits of Sony Bank
(Fiscal year ended M arch 31, 2003)
■Accounts ■Deposits (Billion ¥)
* As of the end of each quarter
1Q 4Q3Q2Q
114,786
191,114
164,058
143,195
145
249
214
178
Sony Corporation Annual Report 2003 43