On March 3, 2025, Mitsui Sumitomo Bank will open the "Olive Lounge" concept store at Koenji, marking a significant shift in how banks engage customers. This new store combines banking services with lifestyle elements, featuring both the bank and Starbucks on the first floor, and creative working spaces on the second.
The Olive Lounge aims to redefine banking by melding financial services with modern convenience. Customers can not only manage their banking needs but also enjoy coffee or work on creative projects within the same space. The store also incorporates seminar rooms for financial education.
“The new concept targets customers who want both financial services and leisure spaces,” said Akihiro Fukudome, CEO of Mitsui Sumitomo Bank. “We’re excited to offer this innovative environment where our clients can feel comfortable and engaged.”
This opening is part of Mitsui Sumitomo's initiative to provide customers with flexible solutions for their banking needs through the Olive ecosystem, which integrates banking, payment, and finance services using advanced technology.
Alongside the launch, the Olive Flexible Pay card is set to be promoted, allowing clients to earn V points through their expenditures. Customers utilizing their Olive Flexible Pay cards at the lounge will receive 10% back on their purchases, driving engagement with the new services offered.
Starting from February 25, 2025, customers will also benefit from special campaigns. These include up to 7% cashback on eligible purchases made using smartphones equipped with Visa contactless payment options. “We encourage everyone to take advantage of this campaign,” added Fukudome, highlighting the bank’s commitment to boosting customer engagement.
With educational efforts being central to these initiatives, the Olive Lounge will also serve as a hub for financial literacy, helping customers understand budgeting, credit, and the potential risks associated with the financial products.
“Financial literacy plays a key role in fostering sustainability,” remarked the bank's representative. “By integrating education with our services, we’re not just offering banking; we’re equipping our clients with knowledge for their future.”
This proactive approach reflects Mitsui Sumitomo's broader commitment to sustainable finance and socially responsible banking practices, aligning with global trends toward enhanced customer engagement and innovation.
This strategic shift not only aligns with modern banking trends but also seeks to draw younger customers who prioritize convenience and lifestyle integration. Mitsui Sumitomo Bank's Olive Lounge may become the new face of urban banking, where financial services and lifestyle intersect harmoniously.
With planned expansions of similar stores across Japan, Mitsui Sumitomo Bank hopes to solidify its position as a forward-thinking financial institution. The Olive Lounge model could very well reshape how financial services are perceived and accessed by the next generation.