INTERVIEW: MUFG Digital Bank to Offer Competitive Rates, Fees

Tokyo, July 7 (Jiji Press)--Japan's Mitsubishi UFJ Financial Group Inc. will offer competitive deposit rates and fees through its digital bank, slated to open in the latter half of fiscal 2026, President and Group CEO Junichi Hanzawa has said.

The digital bank will form the centerpiece of the megabank group's retail financial service platform "emutt," launched last year.

Its cloud-based system will help lower operating costs compared with conventional mainframe systems, allowing the digital bank to offer competitive deposit rates.

The leaner system will also enable the bank to "rapidly update its services in line with changing customer needs," Hanzawa said in a recent interview.

The bank's architecture is "well suited to artificial intelligence" and allows the lender to "offer a variety of customer experiences," he added, showing eagerness to attract more retail customers.

[Copyright The Jiji Press, Ltd.]