Sony Life Receives Permission to Handle Banking Agency Business for Sony Bank
December 13, 2007
Sony Financial Holdings Inc.
Sony Life Insurance Co., Ltd.
Sony Bank Inc.
Sony Life, a wholly owned subsidiary of Sony Financial Holdings, has received permission from the relevant authorities to conduct banking agency business on behalf of Sony Bank, an 88% subsidiary of Sony Financial Holdings.
In addition to enhancing its response to increasingly diverse customer needs, this additional channel should raise the level of banking service convenience to customers. Such stronger ties among companies in Sony Financial Holdings Group will also promote the Group's offering of more comprehensive financial services.
- Operations to Date
Since December 2004, on an agency basis Sony Life's Lifeplanner® sales employees have referred customers interested in mortgage loans to Sony Bank, forwarding to the bank all customer inquiries concerning these loans. - Future Operations
Having now received the necessary permissions, Sony Life's Lifeplanner® sales employees now can provide explanations of Sony Bank's mortgage loan products, as well as deliver applications. Their new ability to respond to customer requests and consult with them about funding home purchases will enable Lifeplanner® sales employees to respond more specifically, thereby enhancing overall consulting and other service offerings concerning customers' life plans. Taking better advantage of Sony Life's customer base and sales channels should enable Sony Bank to raise its level of services on mortgage loans and expand its new loan balance.
At "Life Planning SQUARE", the showroom it operates in the Sony Building in Ginza, Tokyo, to help potential customers recognize the importance of life planning, Sony Life will handle Sony Bank's mortgage loans and set up new Sony Bank accounts. As its first banking services agent, Sony Bank anticipates that Sony Life's ability to respond directly to questions will enhance its convenience to customers. - Commencement of Services
New banking agency services by Lifeplanner® sales employees and at Life Planning SQUARE are scheduled to commence on January 16, 2008.
Note: This is an English-language summary of a Japanese announcement made by Sony Financial Holdings, Sony Life and Sony Bank on December 13, 2007. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
