Mitsubishi UFJ to set up online bank in fiscal 2026

Mitsubishi UFJ is poised to launch its own online banking service, set to begin in fiscal 2026 (ending March 2027), as part of a strategy to compete with rising interest rates and digital shift. The branchless bank aims to attract younger clients using smartphones, leveraging Google’s cloud platform for cost efficiency and differentiation from competitors offering lower fees and higher deposit rates. Additionally, it plans to provide services developed in tandem with its WealthNavi robot asset investment advisor, aligning customer needs with technological innovation.