Finatext Provides Technical Support to Expand Connected Banks for Mitsui Sumitomo Primary Life Insurance's "AHARA", Driving the Digitalization of Variable Annuity Insurance
Finatext completed the development and implementation of an account linking function with SBI Shinsei Bank for MS Primary Life's smartphone-based variable annuity insurance 'AHARA'. This enables direct debit of premiums, realizing asset formation from small amounts.
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- 📰 Published: April 23, 2026 at 18:00
- 🔍 Collected: April 23, 2026 at 09:31
- 🤖 AI Analyzed: April 23, 2026 at 09:44 (12 min after Collected)
Finatext Ltd.
Finatext Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director and CEO: Akane Kinoshita; hereinafter "Finatext"), a member of the Finatext Group that realizes embedded finance through the provision of next-generation financial infrastructure, is technically supporting the expansion of connected banks for "AHARA", a smartphone-completed variable annuity insurance offered by Mitsui Sumitomo Primary Life Insurance Company, Limited (President: Jun Kurata; hereinafter "Mitsui Sumitomo Primary Life"), an MS&AD Insurance Group company. We have now completed the development and implementation of the account linking function with SBI Shinsei Bank, Limited (hereinafter "SBI Shinsei Bank"). With this addition, "AHARA" achieves integration with its second connected bank, allowing a wider range of customers to experience the core value of "AHARA": being able to start with premiums as low as 500 yen.
■ Background
Backed by a rising appetite for investment since the start of the new NISA, variable annuity insurance, which balances protection and asset formation, is drawing attention. However, traditional variable annuity insurance requires high minimum premiums due to product designs predicated on face-to-face sales, acting as a hurdle for younger demographics and novice investors.
"AHARA," launched by Mitsui Sumitomo Primary Life on Monday, May 29, 2023, is Japan's first smartphone-completed variable annuity insurance addressing these issues, and is a pioneering service where all procedures from product explanation to application, contract management, and additional accumulation can be completed on a smartphone. Above all, the product design allowing users to start with a premium of 500 yen is the core value of "AHARA," broadening the gateway to asset formation, particularly for the digital native generation. *1
Traditional payment methods via credit cards or payment collection agencies incur fees to intermediary businesses for each transaction, making small-amount payments like 500 yen economically unviable. "AHARA" utilizes banks' update APIs (direct debit APIs) *2, adopting a mechanism to deduct premiums directly from bank accounts. This technically realizes a product design for low-cost variable annuity insurance by compressing payment fees and enhancing investment efficiency accordingly.
Expanding connected banks for "AHARA" is not simply adding payment options, but an initiative that advances the expansion of touchpoints with customers.
■ Details of This Initiative
With the completion of the development and implementation of the account linking function with SBI Shinsei Bank for "AHARA," customers holding accounts at SBI Shinsei Bank can now complete premium payments and additional accumulations for "AHARA" via direct debit through the API.
The structural strength of "AHARA"—"direct debit from a bank account = low-cost payment"—is designed to be maintained even as the number of connected banks increases.
■ Finatext's Role
Because each bank's API specifications, authentication infrastructure, and operational requirements differ, a robust and scalable technical foundation is essential when adding new connected banks. Finatext has consistently provided technical support for Mitsui Sumitomo Primary Life's "AHARA," including service planning and design support, development support, implementation of robo-advisor services, and development of the smartphone app version.
In this initiative, we supported the integration with SBI Shinsei Bank by undertaking:
- Proposals for a technical foundation based on the sales strategy of Mitsui Sumitomo Primary Life's "AHARA"
- Construction of a scalable common platform that absorbs different API specifications for each bank and can accommodate future additions of connected banks
- Robust and scalable financial infrastructure design based on our extensive track record of system provision in the financial industry
■ Future Developments and Outlook
Finatext will continue to accompany and support the expansion of payment methods for Mitsui Sumitomo Primary Life's "AHARA" not only technically but also strategically. As a provider of financial infrastructure supporting the digitalization and micro-sizing of variable annuity insurance, we will contribute to improving customers' asset formation experiences and to the further growth of "AHARA".
■ Reference Links
Finatext Supports the Development of 'AHARA', an Asset Formation and Investment-Type Life Insurance Product Offered by Mitsui Sumitomo Primary Life (Monday, May 29, 2023) (https://finatext.com/fn/news/20230529/)
*1 Excerpted and summarized from Mitsui Sumitomo Primary Life's "Launch of Smartphone-Completed Variable Annuity Insurance 'AHARA'" (https://www.ms-primary.com/news/ir/assets/20230529_AHARA.pdf)
*2 Update API: Enables processes to change (update) bank account balances or transaction data
Finatext Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director and CEO: Akane Kinoshita; hereinafter "Finatext"), a member of the Finatext Group that realizes embedded finance through the provision of next-generation financial infrastructure, is technically supporting the expansion of connected banks for "AHARA", a smartphone-completed variable annuity insurance offered by Mitsui Sumitomo Primary Life Insurance Company, Limited (President: Jun Kurata; hereinafter "Mitsui Sumitomo Primary Life"), an MS&AD Insurance Group company. We have now completed the development and implementation of the account linking function with SBI Shinsei Bank, Limited (hereinafter "SBI Shinsei Bank"). With this addition, "AHARA" achieves integration with its second connected bank, allowing a wider range of customers to experience the core value of "AHARA": being able to start with premiums as low as 500 yen.
■ Background
Backed by a rising appetite for investment since the start of the new NISA, variable annuity insurance, which balances protection and asset formation, is drawing attention. However, traditional variable annuity insurance requires high minimum premiums due to product designs predicated on face-to-face sales, acting as a hurdle for younger demographics and novice investors.
"AHARA," launched by Mitsui Sumitomo Primary Life on Monday, May 29, 2023, is Japan's first smartphone-completed variable annuity insurance addressing these issues, and is a pioneering service where all procedures from product explanation to application, contract management, and additional accumulation can be completed on a smartphone. Above all, the product design allowing users to start with a premium of 500 yen is the core value of "AHARA," broadening the gateway to asset formation, particularly for the digital native generation. *1
Traditional payment methods via credit cards or payment collection agencies incur fees to intermediary businesses for each transaction, making small-amount payments like 500 yen economically unviable. "AHARA" utilizes banks' update APIs (direct debit APIs) *2, adopting a mechanism to deduct premiums directly from bank accounts. This technically realizes a product design for low-cost variable annuity insurance by compressing payment fees and enhancing investment efficiency accordingly.
Expanding connected banks for "AHARA" is not simply adding payment options, but an initiative that advances the expansion of touchpoints with customers.
■ Details of This Initiative
With the completion of the development and implementation of the account linking function with SBI Shinsei Bank for "AHARA," customers holding accounts at SBI Shinsei Bank can now complete premium payments and additional accumulations for "AHARA" via direct debit through the API.
The structural strength of "AHARA"—"direct debit from a bank account = low-cost payment"—is designed to be maintained even as the number of connected banks increases.
■ Finatext's Role
Because each bank's API specifications, authentication infrastructure, and operational requirements differ, a robust and scalable technical foundation is essential when adding new connected banks. Finatext has consistently provided technical support for Mitsui Sumitomo Primary Life's "AHARA," including service planning and design support, development support, implementation of robo-advisor services, and development of the smartphone app version.
In this initiative, we supported the integration with SBI Shinsei Bank by undertaking:
- Proposals for a technical foundation based on the sales strategy of Mitsui Sumitomo Primary Life's "AHARA"
- Construction of a scalable common platform that absorbs different API specifications for each bank and can accommodate future additions of connected banks
- Robust and scalable financial infrastructure design based on our extensive track record of system provision in the financial industry
■ Future Developments and Outlook
Finatext will continue to accompany and support the expansion of payment methods for Mitsui Sumitomo Primary Life's "AHARA" not only technically but also strategically. As a provider of financial infrastructure supporting the digitalization and micro-sizing of variable annuity insurance, we will contribute to improving customers' asset formation experiences and to the further growth of "AHARA".
■ Reference Links
Finatext Supports the Development of 'AHARA', an Asset Formation and Investment-Type Life Insurance Product Offered by Mitsui Sumitomo Primary Life (Monday, May 29, 2023) (https://finatext.com/fn/news/20230529/)
*1 Excerpted and summarized from Mitsui Sumitomo Primary Life's "Launch of Smartphone-Completed Variable Annuity Insurance 'AHARA'" (https://www.ms-primary.com/news/ir/assets/20230529_AHARA.pdf)
*2 Update API: Enables processes to change (update) bank account balances or transaction data