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Japan’s Largest Bank Plans to Digitize Millions of ‘Hanko’ Documents

relates to Japan’s Largest Bank Plans to Digitize Millions of ‘Hanko’ Documents

Source: Ripcord Inc.

Japan’s largest bank is installing giant robot scanners to digitize millions of documents, as it seeks to break from the long tradition of using paper records to verify its customers’ identities.

Mitsubishi UFJ Financial Group Inc. will use the machines of Ripcord Inc. to scan 300 million pages of files that record clients’ personal seals known as hanko, the Tokyo-based lender said Wednesday. The U.S. startup said last year its first foray abroad will be to work with a large bank in Japan.