I think there is a real opportunity to build a challenger bank catering almost exclusively to foreigners in Japan. Opening an account, sending/receiving money, accessing credit, financial planning... all painful. If there are any founders looking at this space, contact me.
Single data point: I think I’ve made Japanese banks on the order of $20k (and my US banks $50k+) in last 15 years. Interest, currency conversions, credit card interchange, in approximate order. That’s without revenue incident to any investment / wealth management product.
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(Credit card issuing is a great business to be in if you capture most of the share-of-wallet!)
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