asset management

SMBC Group and SBI Group Partner for New Asset Management Services in "Olive"

Norbert Gehrke

18 Jun 2025 — 3 min read

Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities, and Sumitomo Mitsui Card Company, together with SBI Holdings and SBI Securities, have concluded a "Business Partnership Agreement for Individual Asset Management Services" for the purpose of jointly creating new asset management services for Olive.

Furthermore, based on this business partnership and subject to approval by relevant authorities, the partners plan to establish a preparatory company to plan and provide the New Joint Service, aiming to commence business within fiscal year 2025. The investment ratio will be: Sumitomo Mitsui Financial Group 10%, SMBC Nikko Securities 30%, Sumitomo Mitsui Bank 20%, SBIHD 10%, and SBI Securities 30%.

All measures under this business partnership will be implemented within the scope of applicable laws and regulations, and where procedures are required under such laws and regulations, only after the completion of such procedures.

1. Background and History of this Business Partnership

Since concluding a basic agreement on strategic capital and business partnership in April 2020, SMBC Group and SBI Group have been providing "high value-added and convenient services to individual customers." In 2021, they launched an investment trust accumulation service (Sumitomo Mitsui Card Investment Accumulation) that allows customers to purchase investment trusts from SBI Securities using Sumitomo Mitsui Card credit cards. Currently, monthly accumulation amounts exceed 85 billion yen, reaching an annual level of 1 trillion yen. Additionally, in Olive, the comprehensive financial service for individuals that SMBC Group began providing in March 2023, SBI Securities handles highly convenient online securities functions in addition to account and payment services, serving over 5.7 million customers.

Meanwhile, with advancing digitalization, even customers who previously conducted mainly face-to-face transactions are increasingly using digital transactions in combination. At the same time, there is a growing number of customers who usually prefer autonomous digital transactions but wish to consult with financial institutions when they have concerns or difficulties.

To address these emerging customer needs in the future, the partners believe it is important to provide services that combine digital-based operations with consulting tailored to specific needs, allowing customers to flexibly choose from multiple options according to their lifestyles and freely combine them for use. Therefore, they have agreed to upgrade Olive's asset management services by combining the strengths of both SMBC Group and SBI Group.

2. Overview of the New Joint Service

Olive is a comprehensive financial service that seamlessly combines functions such as accounts, card payments, finance, online securities, and online insurance within an app. Olive will now create a new top-tier rank and begin providing "Olive Infinite" (tentative name) with upgraded payment services and asset management services to eligible customers. Additionally, Olive will enhance asset management services that can be used by customers other than those using "Olive Infinite."

For the payment services of "Olive Infinite," Visa's highest rank "Visa Infinite" will be adopted for the first time in Japan, providing the ultimate cashless experience. Furthermore, as a new asset management service, Olive will provide "Flexible Consulting," which combines SBI Securities' highly convenient online securities functions with human consulting functions by advisors from SMBC Nikko Securities and Sumitomo Mitsui Bank belonging to the new company.

3. Olive Infinite

3.1 Japan's First "Visa Infinite"

Outstanding Economic Value

Continuous benefits worth up to 110,000 yen
SBI Securities card accumulation: Up to 6% point return

Exceptional Diverse Exclusive Experience Value

Highest-rank premium services (metal card, concierge desk, Priority Pass, lounges, etc.)
Member-exclusive events for art and dining, invitations to soccer and sports world championships

3.2 Flexible Consulting

Selectable Consultation Channels

AI Chat: 24/7/365 support
Human Consulting: Chat, phone, video calls
Olive Locations: Face-to-face consultation at Olive LOUNGE, etc.

Selectable Consultants

Choose advisors that match your needs based on skills and areas of expertise
From the second consultation onward, you can choose a dedicated advisor and make changes

Your Personal Expert Team

One-stop support for all money-related concerns

3.3 Asset Management Services Available to Customers Other Than Olive Infinite Users

Asset visibility including other banks and companies through integration with MoneyForward
Consulting through AI chat and human chat
Complete SBI Securities transactions within the Olive app
SBI Securities card accumulation and point returns