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Sony brings its online bank to Aus

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Sony’s financial arm is moving into Australia opening a Sony Bank representative office in Sydney in August.

The move will be the first international expansion for its online banking initiative, which it hopes to launch throughout the Asia Pacific.

Sony confirmed that it has already obtained relevant approval from the Australian Prudential Regulation Authority (APRA).

The office will be used initially to research the Australian financial market and embark on a feasibility study.

A Sony spokesperson said if the results are favourable it may begin full operations from April 2012.

The branchless, online only Sony Bank would provide retail financial services and mortgages.

The online bank my have a steep consumer confidence hurdle to get over given Sony’s annus horribilis ion terms of multiple security breaches and theft of consumer information from its gaming arm. ®

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