Key facts
- MUFG Emut Bank will not issue ATM cards, requiring smartphone app identity confirmation instead.
- Customers will use smartphones to withdraw from around 28,000 Seven Bank ATMs in Japan.
- The smartphone QR code security approach is a first for a Japan megabank affiliate, per the report.
A digital bank opening under Japan's Mitsubishi UFJ Financial Group next year will not issue ATM cards, instead having customers confirm identities using the bank's smartphone app for additional security amid a rising tide of cyberattacks, Nikkei Asia reported on November 4, 2026.
MUFG Emut Bank customers will need to use their smartphones to withdraw money from around 28,000 Seven Bank ATMs in Japan, the report said. The shift to smartphone QR codes for security is a first for a Japan megabank affiliate, according to the report.