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SBI Remit Co., Ltd. (Head office: Bunkyo-ku, Tokyo; Representative Director and Chairman of the Board: Nobuo ANDO; hereinafter “SBI Remit”), an international remittance service provider, announces that it has entered into a business partnership agreement with Tottori Bank, Ltd. (Head office: Tottori-shi, Tottori; President: Itaru IRIE) and plans to begin providing services from April 20, 2026. This partnership marks the 26th partnership between SBI Remit and a financial institution to provide SBI Remit’s international remittance services.

 

 

 

■ Background and Purpose

In Tottori Prefecture, which faces challenges due to a decline in the working-age population and labor shortages, foreign workers are playing an increasingly important role in supporting the regional economy. As local companies continue to hire foreign personnel, regional financial institutions are playing a more important role than ever in providing ongoing support. In addition, creating an environment in which foreign workers can live and work with peace of mind, as well as promoting their retention and long-term settlement in the region, has become an important issue for the community as a whole. Both the number of foreign workers and the number of businesses employing foreign nationals in Tottori Prefecture have reached record highs, underscoring the indispensable role that foreign workers now play in the sustainable development of the regional industry.

 

In line with these changes in the operating environment, user needs for home country remittances have also evolved significantly, with the services required by foreign customers becoming increasingly sophisticated. In place of traditional over-the-counter remittances at financial institutions, there is growing demand for services that offer fast and low-cost transfers, enable remittance instructions 24 hours a day, 365 days a year via online apps, and support a wide range of receiving methods, including the expanding use of e-wallets in destination countries. Meanwhile, with the rise in the number of foreign workers, regional financial institutions are experiencing an increase in requests from companies to open payroll deposit accounts. Once providing accounts, they must also handle new customer management tasks such as tracking the residence status and planned return information. As the intake of foreign talent continues to expand going forward, these associated operational burdens, including the need for multilingual support, are expected to increase further.

 

Since its establishment in 2010, SBI Remit has pursued its mission of promoting financial inclusion by providing highly convenient financial services centered on remittances to home countries for foreign residents in Japan. We are actively utilizing advanced financial technology, such as US Ripple’s distributed ledger technology, to improve customer convenience by providing highly secure, affordable, speedy remittance services, customer support in 12 languages, and other services. In addition, we have acquired the banking agency business of SBI Sumishin Net Bank and launched a highly convenient and secure salary deposit account specifically designed for foreign nationals such as technical interns and specified skilled workers. This new service enables SBI Remit to offer a multilingual account that integrates remittances to foreign residents’ home countries and salary payment – two key components of the financial infrastructure for foreign nationals working in Japan, a demographic that is forecast to further grow in the future. This service is gaining increasing recognition not only among foreign nationals, who are the primary user base, but also companies that employ them.

 

The Tottori Bank is a regional financial institution that provides comprehensive financial services aimed at revitalizing the regional economy and addressing local challenges, primarily in the San’in region. By leveraging the Tottori Bank’s strong reputation and brand recognition within the region, this partnership aims to give foreign workers employed by local companies, as well as their employers, easier access to SBI Remit’s low-value international remittance services, contributing to greater financial inclusion for foreign workers in Tottori Prefecture.

 

Furthermore, in recent years financial institutions have faced increasing demands to enhance anti-money laundering (AML) and countering the financing of terrorism (CFT) measures, in addition to heightening administrative burdens associated with ISO 20022 compliance. As a result, achieving both greater operational efficiency while offering enhanced services has become a key challenge for international remittance operators. This partnership is also expected to serve as an effective measure for financial institutions using SWIFT to improve operational efficiency by outsourcing low-value remittances, thereby helping to address the increased administrative burden associated with ISO 20022 compliance, while allowing them to offer services that meet customer needs.

 

SBI Remit will continue to develop and provide highly convenient services that meet the diverse needs of customers, including foreign residents in Japan, in line with the SBI Group’s commitment to deliver new value through a customer-centric approach.

 

*¹ Tottori Prefectural Government; Results of the Tottori Prefecture Population Migration Survey (2025)

https://www.pref.tottori.lg.jp/secure/1417825/pe_R0701-R0712_summary.pdf

*² Tottori Labour Bureau; Aggregated Results of Notifications on the Employment Status of Foreign Nationals

https://jsite.mhlw.go.jp/tottori-roudoukyoku/content/contents/002543777.pdf

 

＜About SBI Remit＞

Company	:	SBI Remit Co., Ltd.
Head Office	:	2-9-3 Otsuka, Bunkyo-ku, Tokyo
Established	:	August 2010
Representative	:	Nobuo ANDO, Representative Director and Chairman
Capital	:	JPY 50 million
Business	:	International remittance service
URL	:	https://www.remit.co.jp/

 

＜About Tottori Bank＞

Company	:	Tottori Bank, Ltd.
Head Office	:	171 Eiraku Onsen-cho, Tottori-shi, Tottori
Established	:	October 1949
Representative	:	Itaru IRIE, President
Capital	:	JPY 9 billion
Business	:	Banking services
URL	:	https://www.tottoribank.co.jp/

 

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