Mitsubishi UFJ Financial Group to partner with Google on AI-powered retail financial services

Mitsubishi UFJ Financial Group and Google will develop a service to assist customers in online shopping and payments using artificial intelligence, with the Japanese megabank planning to launch an AI agent through the alliance by next March as a pilot program.

The envisaged AI agent will search for products based on user-set conditions, propose optimal payment methods, and manage household finances using spending records.

Mitsubishi UFJ is enhancing its services partly by leveraging expertise from technology giants; the bank launched comprehensive digital financial services under the brand "M-tto" last June and announced a partnership with OpenAI in November.