MUFG Innovation Partners invests in Symphony Communication Services
Thanks to this collaboration, MUFG group companies are set to be able to operate their business communications at a higher efficiency while enhancing convenience and information security.
Mitsubishi UFJ Financial Group Inc (TYO:8306), or MUFG, today announces that MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and wholly owned subsidiary of MUFG, has invested in Symphony Communication Services Holdings, LLC.
Symphony provides a cloud-based, secure team collaboration platform which aims to transform the way users communicate effectively and securely with a single workflow application. Its secure platform is based on advanced end-to-end encryption technology that meets the high-level security standards sought by global financial institutions, and other industries. Symphony was originally created by a consortium comprised of 15 financial institutions.
The Symphony platform, which is currently used by over 400 companies across the globe, provides a full suite of enterprise collaboration features, such as messaging, chatbots, audio/video conferencing, secure screen/file sharing, and integrations with third-party applications. Users can also leverage Symphony’s workflow capabilities, expected to contribute diverse productivity and operational efficiencies to MUFG group companies.
With this investment, MUFG and Symphony seek the type of future collaboration that would enable MUFG group companies to operate their internal and external business communications at a higher efficiency while enhancing convenience and information security.
MUIP, which was established in January 2019, pursues partnerships and business synergies between MUFG group companies and portfolio companies. It plans to continue seeking investment opportunities in the fintech sector.
In February this year, for instance, MUIP announced an investment in Moneytree K.K., one of the leading financial data aggregation platforms in Japan.