Sumitomo Mitsui Financial Group to invest ¥1 trillion in IT for AI agents and cybersecurity

Reports from Japanese and Chinese financial outlets say Sumitomo Mitsui Financial Group plans to invest about ¥1 trillion over three years in IT, focusing on deploying AI agents for customer service and back-office automation, strengthening cybersecurity, and modernising its core banking systems. The programme would increase the group’s IT spending by roughly 25% over its current three-year plan, reflecting how large financial institutions are scaling AI infrastructure and automation rather than only funding external AI startups.