MUFG has continued the trend of large financial organisations, including wealth managers, linking hands with fintechs and institutions to drive through use of new technology.

Mitsubishi UFJ Financial Group has signed an agreement to collaborate on financial technology with SRI International, a Silicon Valley-based independent research and development institute in the US.

MUFG said it has been looking since 2016 at creating an information brokerage business alongside to test the use of artificial intelligence to analyse the behaviour of tourists visiting Japan, as well as testing other potential applications. 

In future, MUFG will combine its customer base (anonymized and appropriately managed macro data) and financial insight with SRI's technologies and knowledge of how new ideas are brought to life.

Founded by Stanford University, SRI works with clients to take the most advanced research and development from the laboratory to the marketplace. It serves government and industry.