MUFG's Digital Bank to Open as Emut Bank in 2027
Tokyo, Sept. 24 (Jiji Press)--Mitsubishi UFJ Financial Group Inc. said Thursday that its subsidiary preparing to launch a digital bank has received a banking license, with operations expected to begin between January and March 2027. MU Digital Bank Establishment Preparation Co. received the license from the Financial Services Agency under the banking law, and the company changed its corporat...
Mitsubishi UFJ Financial Group Inc. announced on Thursday that its subsidiary, MU Digital Bank Establishment Preparation Co., has obtained a banking license, with operations set to commence between January and March 2027. The company has rebranded itself to MUFG Emut Bank. The digital bank will be a key player in the financial services arm of MUFG, catering specifically to individual customers.
The bank's offerings will be marketed under the name Emut Bank, with final details to be revealed subsequently. Financial Services Minister Satsuki Katayama expressed her anticipation, stating, "I expect the bank to provide highly convenient financial services" upon granting the license. Unlike fully online banks, Emut Bank will leverage MUFG Bank's extensive branch network and other resources.
The bank's strategy focuses on attracting individual deposits by delivering personalized services for each customer.
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