"SoftBank and Sumitomo Mitsui to collaborate on launching digital banking services."

SoftBank and Sumitomo Mitsui Financial Group of Japan will collaborate to launch digital banking services, with SoftBank's payment platform PayPay being connected to Sumitomo Mitsui's digital bank. PayPay is one of the most popular digital payment tools in Japan, with 69 million users, while Olive has 5 million users. This collaboration aims to make Olive a more convenient mobile banking tool and attract each other's users, enhancing their respective user bases. In addition, this collaboration is not limited to payment services, as SoftBank plans to use its artificial intelligence technology to assist Sumitomo Mitsui Bank in automating backend functions, including call service centers and credit card transaction processing. Big data analysis will be another area of collaboration. Sumitomo Mitsui Bank's customer payment data will be combined with SoftBank's mobile data to provide consumer behavior analysis, helping credit card member stores understand the best locations to open new stores. Customer data can also be used to design marketing activities and promotions, such as customer reward programs.