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Rakuten Bank Surpasses $69B in Deposits, Grows to 14M Customers.

Source: Rakuten Bank

Tokyo, Japan - Rakuten Bank, a Japanese online banking company, recently reached more than JPY 10 trillion (approximately $69 billion) in unconsolidated deposits by December 2023. 

This milestone reflects the bank's growth with a customer base of over 14 million account holders. 

The bank's expansion is attributed to several services, including the "Money Bridge" feature, which offers enhanced interest rates for accounts linked to Rakuten Securities. 

In addition, the bank integrates with Rakuten Group's loyalty program, allowing customers to earn points and use Rakuten Pay for transactions.

The bank also offers Money Support, a tool for managing assets across multiple accounts, and a debit card that supports contactless payments in Japan and internationally. 

In addition, Rakuten Bank has expanded its reach with services such as "Rakuten Bank Convenience Store Payment Service" and "PayGee," which facilitates tax and utility bill payments. 

These enhancements have helped position Rakuten Bank as a versatile option for everyday banking needs.