Japanese Banking Giant Mitsubishi Joins FinTech Innovation Race Launching New Research Unit

Mitsubishi UFJ Financial Group Inc. (MUFG) has set up a unit to research and develop new financial technologies, the first of its kind for a major Japanese bank, as reported by Bloomberg.

The information is not public yet. However, the team of 15 employees in Tokyo and Silicon Valley will start the FinTech Innovation Lab that is planned to be unveiled January 8th, as sources shared with Bloomberg. The Lab will be working with FinTech companies as well as with educational and research institutions using Mitsubishi UFJ resources. Available resources will include securities and trust-banking units, aimed to develop financial products and services.

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