Japan's MUFG to automate operations to free bankers for wealthy clients

TOKYO (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) plans to automate 30 percent of operations at its core banking unit by 2024, using software robots and artificial intelligence for paperwork that would otherwise take 9,500 employees to process.

Automation would free bankers to better serve Bank of Tokyo-Mitsubishi UFJ Ltd’s [MTFGTU.UL] wealthier clients, where there are opportunities such as estate management, said Kanetsugu Mike, the unit’s chief executive since June.

“Branch officials spend 50 to 60 percent of their time processing customer documents,” Mike said in an interview. “We can free up that time with robotics technology so more time can be spent with customers.”

The comments come as Japanese banks turn to automation under an efficiency drive aimed at blunting the impact of the central bank’s negative interest rates on profit margins, stricter capital requirements and a shrinking population.

Japanese banks have been slow to eliminate paper-based documentation compared with major global peers, partly because many forms require customers’ personal ink stamps – Japan’s official method of identification – rather than signatures.

Having fallen behind, they are now scrambling to reform processes – such as introducing stamp-free accounts – and employ new technology to fend off potential threats from their more tech-savvy competitors.

Mizuho Financial Group Inc, Japan’s second-biggest financial group after MUFG, last year set up joint venture J.Score Co with SoftBank Group Corp, using artificial intelligence to calculate individuals’ creditworthiness.

At MUFG, Mike said “robotics process automation” will handle half of branch operations by the end of the business year to March 2024, or 30 percent of the bank’s total. By the time of full installation, the automation would have handled the equivalent of 9,500 employee’s workload, he said.

Freeing up staff will allow for increased focus particularly on 1.2 million clients with assets over 100 million yen ($ 890,000), currently served by only 2,600 bankers, Mike said.

“We need more bankers, so we don’t have much of an excess workforce to begin with,” he said, dismissing any connection between automation and headcount.

Mike, who has spent nearly half of his 38-year MUFG career outside Japan, also said overseas business will continue to be a growth-driver, and that further acquisitions are likely in Asia and the United States.

He said the rate of expansion will not be as fast as in recent years given constraints such as higher capital requirements. MUFG’s assets grew nearly $ 1 trillion over the past decade to $ 2.7 trillion at the end of June.

“Our growth so far has been led by balance sheet expansion, especially after the global financial crisis,” he said. “We need to use our balance sheet more prudently now.”

Reporting by Taiga Uranaka; Editing by Clara Ferreira Marques and Christopher Cushing

Tech

Japan's MUFG to automate operations to free bankers for wealthy clients

TOKYO (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) plans to automate 30 percent of operations at its core banking unit by 2024, using software robots and artificial intelligence for paperwork that would otherwise take 9,500 employees to process.

Automation would free bankers to better serve Bank of Tokyo-Mitsubishi UFJ Ltd’s [MTFGTU.UL] wealthier clients, where there are opportunities such as estate management, said Kanetsugu Mike, the unit’s chief executive since June.

“Branch officials spend 50 to 60 percent of their time processing customer documents,” Mike said in an interview. “We can free up that time with robotics technology so more time can be spent with customers.”

The comments come as Japanese banks turn to automation under an efficiency drive aimed at blunting the impact of the central bank’s negative interest rates on profit margins, stricter capital requirements and a shrinking population.

Japanese banks have been slow to eliminate paper-based documentation compared with major global peers, partly because many forms require customers’ personal ink stamps – Japan’s official method of identification – rather than signatures.

Having fallen behind, they are now scrambling to reform processes – such as introducing stamp-free accounts – and employ new technology to fend off potential threats from their more tech-savvy competitors.

Mizuho Financial Group Inc, Japan’s second-biggest financial group after MUFG, last year set up joint venture J.Score Co with SoftBank Group Corp, using artificial intelligence to calculate individuals’ creditworthiness.

At MUFG, Mike said “robotics process automation” will handle half of branch operations by the end of the business year to March 2024, or 30 percent of the bank’s total. By the time of full installation, the automation would have handled the equivalent of 9,500 employee’s workload, he said.

Freeing up staff will allow for increased focus particularly on 1.2 million clients with assets over 100 million yen ($ 890,000), currently served by only 2,600 bankers, Mike said.

“We need more bankers, so we don’t have much of an excess workforce to begin with,” he said, dismissing any connection between automation and headcount.

Mike, who has spent nearly half of his 38-year MUFG career outside Japan, also said overseas business will continue to be a growth-driver, and that further acquisitions are likely in Asia and the United States.

He said the rate of expansion will not be as fast as in recent years given constraints such as higher capital requirements. MUFG’s assets grew nearly $ 1 trillion over the past decade to $ 2.7 trillion at the end of June.

“Our growth so far has been led by balance sheet expansion, especially after the global financial crisis,” he said. “We need to use our balance sheet more prudently now.”

Reporting by Taiga Uranaka; Editing by Clara Ferreira Marques and Christopher Cushing

Tech

MAMA I LOVE YOU! The Game & Zulay Henao Are Giving Away FREE Groceries To Deserving Mothers!

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This will surely warm hearts everywhere! The Game and actress Zulay Henao are giving away a month’s worth of free groceries to deserving mothers. Find out how you can gift your own mother some free groceries inside…

In light of all of the negatively going on in the world right now, rapper The Game and Single Moms Club actress Zulay Henao are spreading positive vibes and helping out some deserving mothers in a major way.

The twosome has teamed up with Partners In Kynd to launch a new campaign called “#YoMamaMyMama.”

Here’s how it works.

Fans are given instructions to enter their moms to be chosen to receive a month’s worth of FREE groceries. Yep, FREE groceries for a full month!

Yesterday, The Game and Zulay met with one of his lucky fans, Eunice Hicks, her mother Yvette Hicks (who is a mother to 8 children), her sister and her son Ti’Tus for a grocery shopping spree in L.A.

Game wrote on his Instagram page,

So in the midst of all the negativity & tragedy the world has witnessed over the past 10 days… I wake up on a mission to try to spread as much positivity as possible in hopes of shifting the negativity & creating a more peaceful vibe amongst us all…… So today we allowed someone to highlight their mother & tell us why she deserved this $ 1,000 grocery shopping spree…. & @eunice_hicks was chosen & she met us with her beautiful mother “YVETTE HICKS” & her son & younger sister for our 1st #YoMamaMyMama….. Not only was it cool to help out a hardworking mother of 8… It was also heartwarming to meet “TI’TUS @eunice_hicks son… You know game love luhhhhh the kids…. Me & @partnersinkynd will be highlighting other #MotherOfTheDay’s & figuring out creative ways to show them how much we appreciate them…. Without our mothers, their would be no us & if I don’t know anything else about people in this world… I know for a fact, WE LOVE OUR MAMAS…… Be sure to FOLLOW @partnersinkynd NOW & stay tuned for the next #YoMamaMyMama because it will only get better from here….. Tonight was amazing !!! Glad I could put a huge smile on your mothers face for you…….. #TheRobinHoodProject #PartnersInKind #KindnessIsSexy #Kiss4Charity #MotherOfTheDay & on that note…. HOODNIGHT (no typo)

And get this, the campaign is open to all mothers natonwide. If you’re not in the L.A. area, you can still enter your mother to win the grand prize and they will send you the funds to take your mother shopping. SWEET!

Peep the pics from their first shopping spree below:

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LOVES IT! You can stop by The Game’s IG page for the official rules on how to enter.

We’ve got to give it up to The Game and Zulay for paying it forward!

Before they hit up the grocery store:

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The Game and Zulay, who’s gearing up to star in the upcoming flick Destined also starring Cory Hardrict, met up for lunch at The Ivy.

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The Colombian actress, who’s currently dating model Joel Rush, and the rapper sat outside chatting it up, likely discussing their philanthropic plans.

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Before he pulled off in his red drop top luxury vehicle, Game stopped for a moment to snap an “us-ie” with an eager valet worker.

 

Photos: Splash/Game’s IG

Source: http://theybf.com/2016/07/20/mama-i-love-you-the-game-zulay-henao-are-giving-away-free-groceries-to-deserving-mothers

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Toyota and Microsoft Want to Free You From In-Car ‘Tyranny of Technology’

The boundaries between technology and automotive sectors continue to blur, and now Toyota and Microsoft have announced that they’ll be working together to imbue cars with artificial intelligence that will, they promise, humanize the driving experience.

Read more…




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Bring your company’s ‘dark data’ to light with this free new tool from Tamr

All the analytics tools in the world won’t do a company much good if it doesn’t know what data it has to analyze. Tamr offers a free, downloadable tool designed to help tackle that “dark data” problem.

Dark data generally refers to all the information an organization collects, processes and stores but doesn’t use for analytics or other purposes. It’s often unstructured or qualitative data that’s harder to keep track of than numerical data is, and by research firm IDC’s reckoning, it can account for as much as 90 percent of an organization’s information assets.

To read this article in full or to leave a comment, please click here


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Bring your company’s ‘dark data’ to light with this free new tool from Tamr

All the analytics tools in the world won’t do a company much good if it doesn’t know what data it has to analyze. Tamr offers a free, downloadable tool designed to help tackle that “dark data” problem.

Dark data generally refers to all the information an organization collects, processes and stores but doesn’t use for analytics or other purposes. It’s often unstructured or qualitative data that’s harder to keep track of than numerical data is, and by research firm IDC’s reckoning, it can account for as much as 90 percent of an organization’s information assets.

To read this article in full or to leave a comment, please click here


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ResellerClub Introduces Reseller Hosting with Free WHMCS and WHM

ResellerClub Introduces Reseller Hosting with Free WHMCS and WHM
(openPR) – Already backed with a suite of web products and having set an overwhelming market standard for Domain names and SSL Certificates, ResellerClub now prides themselves amongst the top Web Hosting providers across the world.
Read more on openPR (press release)

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Related FAQ:

Using a Reverse Phone Lookup Directory?

Are you planning to use the service of reverse phone lookup? Do you have any idea how such services can benefit you? What are the rewards of this type of service, do you’ve an notion? These are some of the common questions that a lot of people have when not merely planning to make use of reverse phone lookup services but are also apprehensive when trying such services. It’s generally a great idea not to entirely trust any new service without making the required diligence like any other services. Reading the appropriate literature linked with this service, reading user reviews of numerous companies that give such services, and also the legal conditions that have to be followed when utilizing reverse cell phone lookup services requires diligence.

Are you planning to use the service of reverse phone lookup? Do you have any idea how such services can benefit you? What are the rewards of this type of service, do you’ve an notion? These are some of the common questions that a lot of people have when not merely planning to make use of reverse phone lookup services but are also apprehensive when trying such services. It’s generally a great idea not to entirely trust any new service without making the required diligence like any other services. Reading the appropriate literature linked with this service, reading user reviews of numerous companies that give such services, and also the legal conditions that have to be followed when utilizing reverse cell phone lookup services requires diligence.

The fee is also used a security feature for the individual whose details are becoming looked up as the primary topic of the question. Details like credit card number or PayPal address should be provided by users who wishes to look up a service. This is often used for tracking purposes.

When using such service what are other safeguards? The user is given the terms of use when subscribing for such a service. The user will be required to accept the terms prior to completing the transaction. What is contained in the terms is that the service ought to not be employed for illegal activity and violation thereof could mean the cancellation of the subscription together with the forfeiture of the payment, or worse a legal action can be brought against the subscriber.

The reason behind the legal terms is that the constitutional right to privacy must be kept. Also the added protection against identity theft should be followed.

What do I need to begin?To begin, what do I need? A phone as well as a device that can record a phone number is all you’ll need. For some land lines, they do not have a built in display that could show the number of the person calling. A feature which is integrated to caller ID is present to new models.

For mobile phones, this really is not much of an issue as mobile phones already have the capability to log the phone calls that they receive.

All you will need to do is to enter the number into the reverse phone number lookup service when you already have the number. The service will then take care of everything for you.

What exactly is the difference between other companies that provide the exact same service? The charge of using such services can range from $20 to $50 and they can be subjective. Some firms offer the lowest price but return the fewest details about the owner of the phone number becoming looked up. This may only include the address, name, etc. The more costly services however can provide more details with much more accurate results, which may also consist of family, as well as other details you can request.

Besides the details that may be retrieved, the companies can also provide different payment plans for the users. For certain amount of time, subscription based service that may be efficient as some organizations supply it. Each usage is debited from the balance of your credit card account or PayPal as a part of the credit based program offered by other people. You ought to choose the company based on these aspects whatever is your plan.

You can now make a wise choice after reading the general overview of the reverse phone lookup. Remember that the fees connected with using such services are usually not meant only for company purposes but also for security purposes. The services provided by each company can vary from the amount of subscriptions you choose to use. Subscription based that can include a credit based system is also payed aside from other payment plans. Whatever choice you make, you must also keep in mind to respect the privacy of a person when making use of reverse cell phone lookup services.

Want to find out how to do a reverse cell phone lookup correctly? See the correct way to do a reverse phone lookup in the US or Canada here.

Buying Cheap Ps3 Games

When a hot gaming console table comes out, it appears like everything affiliated with that console, is just uber costly. That takes service, parts, accessories, and games. Fortunately for ps3 owners, the Nintendo ps3 has been on the market for a while, and it is possible to get some deals on games. There are some meathods to get cheap ps3 games, if you know where and how to seek them.

When a hot gaming console table comes out, it appears like everything affiliated with that console, is just uber costly. That takes service, parts, accessories, and games. Fortunately for ps3 owners, the Nintendo ps3 has been on the market for a while, and it is possible to get some deals on games. There are some meathods to get cheap ps3 games, if you know where and how to seek them.

Renting games, is one possible option. Your local video store probably has game rentals for a little more than the price of a DVD rental. They normally have the latest titles, and it’s cheaper than paying full price for a game you may not even like.

The obvious advantages to renting games is that you never get stuck paying full price for a game you only play a few times. Choice, is new vantage. The game renting companions commonly have thousands of titles to pick out from. Imagine, it’s like having the biggest room in your house filled with nothing buy shelves and shelves of video games. That’s kind of what it’s like. Except, with a monthly membership, you really get to keep furniture in that big room.[youtube:zjsfE4FR33Y?fs=1;[http://www.youtube.com/watch?v=zjsfE4FR33Y:burn wii games];http://www.youtube.com/watch?v=zjsfE4FR33Y?fs=1&feature=related]

Being able to play all the games you want for one fixed price is basically how it works. As long as you play plenty of games per month, it will likely save you money.

Different pick for cheap ps3 games, is to go the ps3Ware route. A lot of people probably don’t even know about this. Nintendo doesn’t look to plug it much. But, you are able to actually download games through your playstation 3, right onto your ps3, and play them right away. There are several top notch games like Mega Man 9 available on ps3Ware. Remember, first you should connect your playstation 3 to your home wireless network.

Some Other excellent choice for low-priced games, is to buy cheap ps3 games. You can get these either at your local games store, or online. The nice thing about shopping for cheap ps3 games online, is that your option of games will be exponentially larger than anywhere else. If there’s a unique game in mind, you can be pretty sure you’ll get it online. If you require another reason for purchasing used games, how about it’s more environmentally friendly. One of the three R’s (reduce, reuse, recycle).

Searching for cheap ps3 games can be easy with some advice. Stop by our page to find an alternative way to get cheap ps3 games. Start having fun for practically nothing!