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JAPANESE 'MINI BANKS' : Retail Banking Services through Convenience Stores William V. Rapp1 and Mazhar ul Islam2 ABSTRACT This paper analyzes how leading Japanese convenience stores (CVS) have organized themselves over the last two decades to offer services that are typical to the services of retail banks. These stores act as "mini banks" and offer services such as loan repayments, utility bill collections, online purchase payments, funds transfers and credit cards. In addition, most of the stores offer more sophisticated financial services through automated teller machines and multimedia kiosks. The two main drivers of the evolution of "mini banks" are CVS' strengths in strategic application of information technology and opportunities in financial sector, which resulted from a series of government initiated reforms. Leading CVS have strategically combined these two drivers in developing their "mini banks", while exploiting their 24 X 7 advantage. This "mini bank" model creates value for CVS...

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