Testamento finalist at the Tokyo Financial Award

Testamento announced as a finalist at the Tokyo Financial Award 2020 and joining the Tokyo Metropolitan Government support program. Testamento will participate in the support program of The Tokyo Metropolitan Government (TMG) for the “Financial Innovation” category.

Nov. 5, 2020 – Press Release

Tokyo Financial Award: an international competition

A total of 90 businesses applied from 20 countries and regions including Japan. 16 companies have been selected (5 from Japan, 3 from the USA, 3 from Singapore, the others being from Australia, Estonia, France, India and Israel).

Tokyo Financial Award

The metropolitan government created this award within its objective to make Tokyo an attractive international financial center as part of the “Global Financial City: Tokyo” vision. Yuriko Koike, Governor of Tokyo, said: The world is changing rapidly and Tokyo must win in competition among cities in the world and thus must be a driving force to move the Japanese economy forward. For that, Tokyo must have power to earn money, and financial service is the core for that. She added : We would like to make Tokyo a city where talents, money, information and technology gather.

One specificity of the award is that it is divided into two categories. The “ESG investment” category and the “resolution of Tokyo residents’ needs” category. The selection of participants has been based on needs expressed by Tokyo residents. The Tokyo Metropolitan Government collected opinions from Tokyo residents regarding their needs for ESG investment and financial services. A total of 25 themes pertaining to B-to-C services and 5 themes pertaining to B-to-B services under the “Financial Innovation Category”, have been identified.

TMP support program

As a participant into the support program, Testamento will receive significant support from The Tokyo Metropolitan Government. This support will be in the form of mentorship programs, business matching and provision of office space. This is a unique opportunity and it will help Testamento to analyse in detail the Japanese market potential for its activities.

Implications for Testamento

Being selected for the TMP support program is very encouraging, as it indicates there is significant market demand for Testamento solutions. Both on the B2C side by allowing individuals to take control of their inheritance planning, and on the B2B side, by providing inheritance simulations and related services to corporate customers. Furthermore, Testamento can help traditionally Japanese actors in the digitization of their procedures.

Mr. Virgile Delporte, President and co-founder of Testamento commented: Being the only French startup selected to be part of the TMP support program is something we are proud of. Not only because competition was tough, but mainly because it shows that we now have the maturity to compete with the best international startup and scaleup fintechs.

Testamento finalist for the Tokyo Financial Award 2021

Furthermore, Testamento is now taking part in this year’s “Tokyo Financial Award” competition, together with the other members of the TMP support program. The three award recipients will be announced around February 2021.

Virgile Delporte explained: With a population of 126 million, a proven appetite for life insurance and a clear need for digital transformation, the Japanese market is a clear opportunity for Testamento. We are excited and look forward to benefiting from the TMG team advice in order to see how we could adapt our solutions and see if after France, Japan could be Testamento’s next step in our development!

About Testamento

TESTAMENTO was launched in France in late 2013. It had the aim of making inheritance planning accessible to all. Designed with notaries, lawyers and insurers, the platform offers information relating to inheritance and transmission. As well as tools for drafting legal documents aimed at securing everyone’s assets. Documents can be legally archived or registered in the central file of notaries, proofread and kept for life by one of the notaries on the site. Supported by IMT Starter Incubator Program, the Entreprendre Network and the “French Assurtech” accelerator program, Testamento has been granted the Finance Innovation label. The company has raised €3.3M and already has more than 10 active partnerships with major players in banking and insurance in France including Generali and Allianz. Testamento joined the France Fintech association in 2020.

For more information: https://testamento.io

About the Tokyo Metropolitan Government

Tokyo Metropolitan Government (TMG) is working together with the national government, private sector, and others to revitalize and transform Tokyo as the top global financial city in Asia. In this regard, TMG is hosting the “Tokyo Financial Award” as one project in the “Global Financial City: Tokyo” Vision. Since 2018, TMG has been granting a prize to financial institutions who provide and develop innovative products and services that meet Tokyo citizens’ needs and challenges, as well as financial institutions who work to promote ESG investments. For further information, consult the TFA website and the TMG press release about the program.