Jenius Bank™ Launches Inaugural Product, Personal Loans

Jenius Bank™, the digital banking division of Manufacturers Bank, a California state chartered commercial bank that is a wholly-owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, has announced the launch of personal loans, its inaugural product. Jenius Bank intends to become a full-service bank for the U.S. market with additional offerings in the coming months, including a savings product and mobile app.

Data shows that 78% of millennials are frustrated with traditional banking processes and 81% would like their bank to make suggestions about their financial goals, demonstrating the need for a holistic new approach to deliver personalized banking experiences.

“Jenius Bank’s personal loans launch continues to fuel our mission to empower customers with smarter banking to create a richer life for themselves,” said John Rosenfeld, President of Jenius Bank. “Personal loans offer the ability for customers to save thousands on higher-rate debt. In an environment where many are looking to save and pay down debt, our personal loans with flexible terms and discounted rates are a great option.”

Jenius Bank will also use best-in-class technology to make mastering personal finances easier by allowing aggregation of all money management in a forthcoming easy to use app. As financial services become more and more driven by advanced technologies, Jenius Bank aims to show customers how they can benefit from the power of data, while still maintaining a strong element of humanity in its banking relationships. Jenius Bank personalizes banking using an established and extensive consumer research program that drives product designs with direct customer input. Keeping the customer top of mind, Jenius Bank also offers U.S.-based 24/7 first-class customer support online or by phone.

“The introduction of personal loans launches Jenius Bank toward building a full-service suite of products that re-imagines what the industry looks like today,” said Andrew Harris, EVP, Head of Product at Jenius Bank. “At Jenius Bank, our goal is to create personalization, merging the advancements of technology with a consumer-first approach. We use leading technology to provide customers with a banking experience that is built on their data and preferences. Unlike many traditional banks, our products are specifically made to best meet customer interests, jointly working with them toward their financial goals.”