How MUTB Uses AI to Hire Diverse, High-Potential Graduates

Mitsubishi UFJ Trust and Banking Corporation (MUTB) boasts nearly 100 years of history. The company has a global presence with branches and subsidiaries in key cities across Asia, Europe, Australia, and the United States. 

Guided by the Purpose “Empowering a Brighter Future”, MUTB continuously enhances its products and services through the latest digital technologies – and this extends to their recruitment operation too.

A search for quantity and quality

In Japan, there is a unique hiring system known as ” New Graduate Hiring”, where companies hire a set number of university and graduate students every year during a specific period. However, with global talent shortages, securing candidates who meet quality and quantity requirements is challenging.

At MUTB, the recruitment efforts go beyond simply meeting the target number of new graduate hires. As a financial institution that provides comprehensive and high-quality financial services to both individual and corporate clients, while addressing broader societal challenges, it is essential for MUTB to recruit diverse students who approach client challenges with emotional intelligence and professional acumen. The challenge lies in how to effectively assess and hire students with the potential to grow into such professionals.

Each year, MUTB receives thousands of applications for several hundred internship slots. As part of this highly competitive selection process, they selected Hirevue’s Video Assessments to help identify the best-fit candidates.

Straightaway MUTB was able to increase the number and diversity of universities that graduates were hired from by more than 19% after introducing Hirevue, with an expansion from 36 universities to 44 universities. 

Improving efficiency and ensuring fairness

Before using Hirevue, MUTB’s internship program required students to submit video responses to interview questions, which were then manually reviewed by interviewers. However, this process raised several issues, such as the potential for interviewer bias and the significant amount of time required for the evaluation.These challenges highlighted the need for a more efficient and objective approach to assessing candidates. 

“Through Hirevue, we now evaluate candidates from multiple perspectives, identifying individual traits, hidden abilities, and potential that might not be evident in a traditional, time-limited interview. This approach allows us to uncover qualities that could easily be overlooked by relying solely on interviewers’ judgments. Additionally, Hirevue Assessments help us streamline the selection process, making it more efficient”, said Ryoko Kaneko, Chief Manager, Human Resources Division, MUTB.

Streamlining the recruitment process, for students who prioritise “time performance”, was another benefit of the new process. This is a popular concept especially in a younger generation and is called “Taipa” for short. By using Hirevue, MUTB was able to significantly shorten the selection process and make quicker decisions on candidates’ results. This improvement in selection speed allowed MUTB to meet the needs of today’s candidates, who highly-value time efficiency and expect prompt feedback on their application status.

An AI-enabled process

Before implementing Hirevue, MUTB had concerns that students might feel resistant to the idea of AI being used within interviews. However, the feedback was overwhelmingly positive and comments included, “Using AI made the company feel cutting-edge,” and, “Because the AI evaluation is included, I felt the process was fair.” Additionally, MUTB often heard students say things like, “I appreciated how quickly the selection results were communicated”.

Other notable feedback was, “Receiving feedback comments during the interview process provided an objective evaluation, which was helpful for my job-hunting efforts.” This demonstrated that today’s students are much more open and accustomed to the use of AI than MUTB initially thought, and was reflected in a very strong candidate NPS of 58.4 and a CSAT of 82.4%.

MUTB also leverages these AI-driven insights to enhance the follow-up interviews. By preparing deeper, more focused questions based on the AI’s insights, interviewers can better understand candidates from multiple angles, leading to a more comprehensive evaluation. This helps to place the right talent in the right roles across the business and contributes to the delivery of high-quality services, operational efficiency and fosters innovation. 

“We’re thrilled to see such positive reactions from students. Interestingly, even within our organisation, there were comments like, “I didn’t realize we were using AI in this way”, which I believe has served to inspire and energize our internal teams around AI as well”, said Ryoko Kaneko, Chief Manager, Human Resources Division, MUTB.

IDE&I at its heart

MUTB actively promotes IDE&I to create an organisation where every employee—regardless of gender, generation, nationality, or disability can maximise their abilities and be provided with opportunities for growth. Their focus extends beyond simply embracing external diversity, striving to foster an environment where individuals with diverse attributes and values can thrive.

“With Hirevue, we’re confident that our efforts to ensure diversity at the recruitment stage and to unlock the full potential of every student applicant have been brought to life. This acknowledgment reinforces our commitment to continue enhancing our recruitment processes in the future”, said Ryoko Kaneko, Chief Manager, Human Resources Division, MUTB.