Amazon Web Services (AWS) has announced that Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial services provider, is accelerating its cloud-first strategy with AWS.
As a result, MUFG will use AWS technologies to inform data-driven business decisions, automate processes, and develop new digital financial products.
Furthermore, operating in the cloud, MUFG can provide clients with faster financial processing times, more timely insights, and secure access to digital services that promote long-term financial security.
Toshiki Ochi, Managing Corporate Executive and Group Chief Information Officer at MUFG, commented: “AWS is helping MUFG achieve its goal of becoming a digital financial platform by leveraging cutting-edge technologies, including generative AI.
“Our cloud-first approach with AWS has given us the agility to rapidly innovate on behalf of our customers, reach the business velocity that we couldn’t achieve on-premises, and accelerate the way we bring secure, industry-leading solutions to market at reduced cost.”
MUFG also revealed that by tapping into Amazon QuickSight, a cloud-based business intelligence service, the firm reduced the time it takes to aggregate employee responses by 25% and lowered operational costs by approximately 70% compared to legacy technology.
Scott Mullins, Managing Director, Worldwide Financial Services at AWS, added: “The financial services industry is undergoing a significant digital transformation as heightened consumer expectations for personalised, frictionless experiences drive innovative, new services powered by generative AI.
“Combining AWS’s broad functionality, scalability, and approach to innovation with MUFG’s financial services expertise is transforming its business and accelerating the launch of innovative digital experiences for its employees and customers.”