Seamless compliance through automation for MUFG Bank in Indonesia

Vision

Accurately reporting on secured data

Financial services are complex in many ways. As an international company, the Mitsubishi UFJ Financial Group (MUFG) must comply with global regulations as well as myriad country-specific laws and regulations governing how they do business and treat data. This involves working with sensitive personal and financial information and keeping track of how and where data is used.

Indonesia has stringent requirements for global banks operating in the country.

They must report to both the central bank (Bank Indonesia) and the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan). To generate the reports these authorities require, MUFG in Indonesia has to pull data from various sources across their business. The reports have to follow the standards and accounting regulations that specify how businesses must record accounting events in financial statements, and these change nearly every year.

In addition, the data used for reporting and daily operations must be stored securely, which means MUFG’s data center in Indonesia has to be reliable and secure, comply with regulations, and support the way MUFG works across more than 50 markets.

Transformation

Automating compliance and reporting

NTT had previously worked with MUFG in Indonesia to help them comply with the reporting requirements of Bank Indonesia and the financial services regulator. Since the regulations had changed significantly, we consulted with MUFG to understand their current requirements and system environment, and develop a solution to meet their needs.

We implemented REGLA®, our flagship product for banks and financial institutions, which enables automated reporting for compliance. REGLA pulls data from across MUFG in Indonesia’s business systems and puts it in the correct format to submit to the regulators.

Some of the infrastructure housing this data is colocated the NTT JKT2 Data Center, and MUFG also uses other NTT data centers around the world. Our data centers give them a secure solution for housing their customers’ data without relying on cloud technology and enable them to comply with each country’s regulations governing how sensitive information is stored.

Results

Ensuring compliance, even when regulations change

It’s now much easier for MUFG in Indonesia to ensure compliance, as most of the process has been automated, from gathering and collating the information, to generating the report. As the REGLA format is reliable, it saves time, allowing the team to focus on verifying the content and submitting the report.

Reliable reporting

The REGLA platform generates reports with better data quality and is a single, reliable source of information.

Adapt to changing regulations

REGLA has a set of standard reports that can be modified for specific analysis, with multiple data views and grids. So, if any regulations change – local, regional or international – the reports can change too.

Consistent experience

The high-speed connections between all our data centers and our fiber-optic technology enable global organizations to connect with each other effortlessly. Our data centers enable MUFG in Indonesia to have the same experience.