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Shinsei Bank partners with crowdsourcing company to expand services

Japan's Shinsei Bank Ltd. has partnered with Lancers Inc., which is involved in the crowdsourcing business, to develop financial products and services for freelancers.

The bank said Dec. 18 that it subscribed to part of a ¥1 billion third-party allotment issued by Lancers as part of the partnership. Shinsei Bank will conduct credit screening on Lancers' freelancers and will develop products and services geared toward this sector.

The bank expects the move to help with the future growth of its business amid Japan's aging population and a growing number of freelance workers.

As of Dec. 18, US$1 was equivalent to ¥112.36.