MUFG taps AWS to speed up digital revamp

Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial services firm, has entered into a multi-year agreement with Amazon Web Services (AWS) to expedite its digital transformation efforts. This collaboration involves MUFG leveraging AWS’s cloud technologies to implement generative artificial intelligence (AI) and machine learning capabilities, automate various processes, and provide personalised financial services tailored to customer needs.

The adoption of AWS’s cloud services has reportedly resulted in a 20% reduction in MUFG’s IT operational costs. Additionally, the transition to the cloud has increased the speed at which MUFG can bring new services to market, enhancing both security and accuracy of insights for customers. The cloud technology is also being utilised to improve operational efficiencies within MUFG and elevate employee engagement and performance.

Toshiki Ochi, Managing Corporate Executive and Group Chief Information Officer at MUFG, highlighted the advantages of their “cloud-first approach with AWS,” emphasising the agility it provides for rapid innovation on behalf of customers. This approach allows MUFG to achieve business velocity that was challenging with on-premises solutions, enabling them to introduce secure, industry-leading solutions to the market at a reduced cost.

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