Market Chatter: MUFG Bank to Modernize China System With Tencent Cloud by 2027

MT Newswires Live

Sep 25

Mitsubishi UFJ Financial Group (TYO:8306) unit MUFG Bank will overhaul its core banking system in mainland China through a partnership with Tencent Holdings (HKG:0700), marking its first upgrade in two decades, Nikkei reported Thursday.

The Japanese lender will replace its current in-house platform with a standardized system from a Chinese software vendor, running on Tencent's cloud by October 2027. To comply with local rules, the system will operate on MUFG's own servers using Tencent's cloud services, according to the report.

The move, aimed at cutting costs and improving efficiency, could later expand to sales and approval systems, with plans to tap Tencent's AI for further gains, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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To comply with local rules, the system will operate on MUFG's own servers using Tencent's cloud services, according to the report.</p><p>The move, aimed at cutting costs and improving efficiency, could later expand to sales and approval systems, with plans to tap Tencent's AI for further gains, the report said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1814569148.SGD","symbol_name":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2570037800","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2570037800","pubTimestamp":1758760608,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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To comply with local rules, the system will operate on MUFG's own servers using Tencent's cloud services, according to the report.The move, aimed at cutting costs and improving efficiency, could later expand to sales and approval systems, with plans to tap Tencent's AI for further gains, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}