Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, announced that it will link its application with OpenAI’s interactive artificial intelligence (AI) service ChatGPT. It is the first Japanese company to incorporate ChatGPT into financial services.
Customers can connect ChatGPT to the bank app for advice on financial and asset management. MUFG aims to introduce linked services by fiscal year 2026.
OpenAI introduced the feature for the first time in the U.S. last month. The Nihon Keizai Shimbun reported that there is a possibility that the system where conversations with AI become the starting point for service use under the concept of a “super app” will spread in Japan as well.
When a MUFG customer enters “I want to manage my household finances” in ChatGPT, it analyzes deposit, withdrawal and transfer data through app authentication and visualizes income and expenditure as a graph. It also provides advice on how to use the extra funds.
AI can learn conversation records and answer complex questions. Previously, chatbots for answering questions were used, but there was a limitation in that it was not practically helpful for household management because it was simple and repetitive.
Meanwhile, Mitsubishi UFJ plans to link ChatGPT not only to bank apps, but also to group company apps and upcoming digital bank apps. Address changes or service applications are processed through bank apps as before.
EJ SONG
US ASIA JOURNAL
