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Market Chatter: MUFG to Launch Digital Financial Services for Small Businesses as Early as Next Year

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Mitsubishi UFJ Financial Group (TYO:8306) plans to launch digital financial services for small and medium-sized enterprises as early as next year, targeting a large underserved segment of Japan's market, Nikkei Asia reported Friday, citing an official.

Although SMEs receive 70% of all bank loans, major lenders have avoided this space due to small loan sizes, but digital services cut costs, making smaller businesses a feasible blue ocean for leading banks, the news daily said.

MUFG's full-scale push will begin in 2027 with dedicated credit cards for SMEs and sole proprietors as the payment core, expanding gradually on an online portal where smaller businesses can access financing to fund management, the report said.

Norihiko Sumita, president of MUFG's credit card subsidiary Mitsubishi UFJ Nicos, said the group will "create a financial platform for corporations", the publication 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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