The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) today announced that it has launched “MUFG Fintech Accelerator”, an acceleration program for startup companies with outstanding business ideas and technologies to establish innovative financial services leveraging Information and Communication Technology (ICT).

As ICT is rapidly changing the traditional financial industry, the bank held an open innovation business competition “Fintech Challenge 2015” to promote innovative MUFG Fintech Accelerator program aims to stimulate innovative new ideas to create new business with startup companies, without any limitations of traditional financial processes. The Bank is considering collaboration with other MUFG group companies for this program.

The Bank launched an official site today and will accept applications from December 18, 2015 to January 31, 2016. The meet-up events will be held on December 18 and January 18. After paper-based selection and interviews, invited-only DEMO DAY is scheduled in the middle of August, 2016.

Its Qualified applicants are startup companies that were established within 5 years and/or individuals over 20 years old who are planning to launch a new business.

(Source: The bank of Tokyo-Mitsubishi UFJ)

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