Afero Ushers In New Era of "Bank of Things" In Collaboration With MUFG

LOS ALTOS, Calif. - Oct. 12, 2018 - PRLog -- Silicon Valley IoT pioneer, Afero, today announced plans to display their advanced micropayment solution being developed with Mitsubishi UFJ Financial Group, Inc. (MUFG), at this month's CEATEC, Japan's largest IT and electronics exhibition as a part of MUFG's exhibition stand. This showcase aims to visualize integration of blockchain technologies and a secure IoT platform to enable extremely low-cost high-speed micropayments at scale.

"The emergence of billions and billions of smart connected devices is creating a need for new banking solutions that enable more and more 'things' to transact directly with each other, either on-command or autonomously according to pre-defined policies," said Masakazu Osawa, Managing Director, Head of Digital Transformation Division at MUFG. "We are pleased to collaborate with Afero, a pioneer of highly secure IoT products in Silicon Valley that is gaining a strong reputation."

The ability to process extremely low-cost micropayments unlocks the vast number of micro-transactions, opens up entirely new markets, and helps deliver an important promise of IoT: more freedom and better experience for customers.

"It is clear that the next frontier in financial services will be to complement corporate and consumer banking with banking that includes 'things' in its basic design," said Afero co-founder and CEO Joe Britt. "MUFG has always represented global excellence and innovation in financial services. We are excited to work with MUFG as it works to open a new chapter in the industry with a 'Bank of Things'."

CEATEC Japan runs from October 16, 2018 through October 19, 2018 in Tokyo. The MUFG booth is located in the conference's IoT Town 2018, #S015-16.

CEATEC attendees can engage with an interactive IoT demo at the MUFG booth which shows examples of micropayment processing using cloud-connected devices powered by Afero IoT and MUFG micropayment processing.

About Afero
The Afero next-generation IoT platform accelerates time to market, provides hardened security from sensor to cloud and from factory to customers, simplifies onboarding to help maximize customer connections, and uses data ontology to streamline machine learning. The Platform is supported by elastic, multi-cloud services that deliver reliability and responsiveness, and a new software engineering model that unifies embedded, mobile, and cloud development.
Afero has assembled a team of world-class mobile, hardware, security, and cloud veterans from Google, Apple, Nest, Danger, Microsoft, Amazon, Twitter, and Netflix. To learn more about Afero, please visit www.afero.io.

About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 1,800 locations in more than 50 countries. The Group has over 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges.  For more information, visit https://www.mufg.jp/english