MUFG, Japan's largest financial services provider, has chosen Amazon Web Services (AWS) as its preferred cloud provider in order to accelerate its cloud-first strategy. By utilizing AWS technologies, MUFG aims to apply generative artificial intelligence (AI) and machine learning (ML) to better serve its customers and develop new digital financial products.
AWS: Transforming MUFG’s Infrastructure
Moving from on-premises data centers to AWS has reduced MUFG's IT infrastructure operating costs by 20% and enabled faster innovation in personalized financial services. Through platforms such as Money Canvas, developed on AWS, MUFG offers its customers a wide range of financial products and services.
Additionally, MUFG is exploring the use of generative AI and ML across various areas of its business, such as customer service, finance, human resources, and sales. The company has already experienced a 30% increase in productivity by using Amazon SageMaker to automate account transfer requests.
MUFG's Global Markets Business Unit uses AWS to gain new insights from data, optimize trading portfolios, identify potential customers, and automate contract document analysis. The company plans to leverage Amazon’s SageMaker JumpStart to access pre-trained models that provide condensed summaries of reports, financial statements, and customer inquiries.
Leveraging Amazon Redshift and QuickSight
MUFG, a bank with a 360-year history, is using Amazon Redshift, a cloud data warehouse, to turn its diverse group of bank data into predictive insights. This helps optimize sales activities, enhance customer interactions, and promote operational efficiencies. The bank is also using Amazon QuickSight, a cloud-based business intelligence service, to improve employee engagement.
By aggregating survey response data and distributing results with its Pulse Survey platform, MUFG has reduced response aggregation time by 25% and lowered operational costs by approximately 70%. This allows managers to make timely decisions to maintain a people-focused culture and boost employee performance.
MUFG's cloud-first approach with AWS has enabled rapid innovation, increased business velocity and reduced costs. This collaboration is transforming the bank's business and accelerating the launch of innovative digital experiences for employees and customers.