MUFG and OpenAI Partner to Launch AI-Powered Digital Bank in Japan

Mitsubishi UFJ Financial Group (MUFG) is teaming up with OpenAI to introduce an AI-driven digital bank in Japan by next year. The collaboration aims to revolutionize traditional banking by integrating ChatGPT for automated account openings, customer service chats, and personalized financial management via smartphone apps. The initiative targets Japan's paper-heavy financial system, streamlining processes to eliminate delays and long queues.

The digital bank will enable users to consult AI for savings strategies, asset management, and household budgeting—replacing branch visits and phone calls. MUFG frames this as part of a broader push to embed AI across operations, from client-facing services to backend workflows.

Concurrently, MUFG is aggressively expanding its AI talent pool, planning to hire over 350 specialists by March 2027. The recruitment focuses on mid-career tech professionals, signaling a long-term bet on AI's role in financial innovation. Global banks face similar balancing acts: leveraging automation without eroding human-centric services or triggering workforce reductions. In Japan, where finance employs hundreds of thousands, the AI debate remains contentious, with executives cautiously navigating employee concerns.