MUFG, Japan’s largest bank, has deepened its strategic relationship with Finastra, a global financial services software provider, by selecting the firm’s Global PAYplus solution to support ACH payment services in the United States.
The decision extends a unified payments architecture that MUFG has already rolled out across Japan and Europe, bringing a third major region into a single, modernised payments framework. The US expansion represents the latest phase in an ongoing multi-year programme aimed at streamlining the bank’s payments infrastructure and boosting operational performance at scale.
MUFG Americas CIO Alla Whitston said, “In 2021, we began our ISO 20022 journey with a bold decision to replace the core payment engine with a completely new one.
“After careful evaluation, we selected Finastra as our partner to first modernize our payment capabilities and following its successful completion decided to migrate our legacy ACH platform, benefiting from their global payments’ expertise and modern technology stack. Global PAYplus offers highly configurable capabilities to modernize our payments systems more broadly too, driving ISO 20022 compliance, and providing the flexibility to launch new services.”
Through the adoption of Global PAYplus, MUFG is consolidating both ACH and cross-border payment processing onto a single cloud-native, modular, ISO 20022-native platform. The approach is intended to reduce operational complexity and allow the bank to respond more swiftly to shifting customer needs and regulatory requirements.
Finastra EVP, Payments Barry Rodrigues said, “MUFG’s continued investment is a strong signal of where banking is headed – toward modern, unified, and highly adaptable payments infrastructure.
“We’re proud to partner with them on this journey, helping deliver the resilience, speed and flexibility that banks need today, while building a foundation that can evolve with future demands.”
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