Jenius Bank

Jenius Bank is the digital banking division of SMBC MANUBANK, a part of the SMBC Group. Based in Philadelphia, Pennsylvania, it operates as a private financial institution focusing on digital banking solutions. The bank offers savings accounts, personal loans, and financial management tools.

Jenius Bank provides a high-yield savings account with a 5.25% APY, no fees, and FDIC insurance up to $250,000. It also offers personal loans with fixed rates ranging from 7.49% to 22.49% APR, no fees, and fast fund access. The bank emphasises financial security through fraud monitoring and digital banking tools.

Jenius Bank was launched in 2023 as a digital-first bank, leveraging technology for cost efficiency and better customer experiences. It operates entirely online, allowing users to manage accounts through its mobile app and online platforms. The bank is cloud-based and does not have physical branches, which helps in offering competitive interest rates.

The bank's leadership includes President John Rosenfeld, who has experience at GE, Bank of America, TD Bank, and Citizens Bank. Other key members include Tracey Dunlap, who leads user experience design, and Dan Struble, who focuses on financial wellness solutions.

Jenius Bank has received industry recognition, including awards for its high-yield savings account and loan offerings. It has been featured in publications such as American Banker, The Wall Street Journal, and The Motley Fool.

Jenius Bank prioritises transparency, customer-focused banking, and digital innovation. It continues to expand its operations across the United States, providing users with accessible and competitive banking services.

Jenius Bank was launched in 2023 as a digital banking division of SMBC MANUBANK, a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC). It was established to offer online banking services with a focus on competitive interest rates, fee-free banking, and financial management tools. The bank operates as a fully digital entity, relying on cloud-based technology instead of physical branches to reduce operational costs and provide better returns to customers.

SMBC MANUBANK, formerly known as Manufacturers Bank, has a history dating back to 1962 when it was founded in the United States. The bank became part of SMBC Group, a major Japanese financial institution, through mergers and acquisitions. SMBC itself was formed in 2001 after the merger of Sakura Bank and Sumitomo Bank, which originated from the Mitsui and Sumitomo business groups in Japan, established in the 16th and 17th centuries. Jenius Bank was developed as part of SMBC MANUBANK’s strategy to expand its digital banking presence in the United States.

Jenius Bank introduced its first products in 2023, including a high-yield savings account and personal loans. The savings account offered a 5.25% annual percentage yield (APY) with no minimum balance or fees, making it one of the most competitive savings options in the market. The personal loan product was designed to provide fixed-rate loans with no fees, offering an alternative to traditional bank loans. The bank also focused on providing financial tools such as fraud monitoring and account aggregation to help customers manage their finances more effectively.

By mid-2024, Jenius Bank reported over $1 billion in deposits within six months of its launch. The bank’s growth was driven by its ability to offer higher interest rates on savings and transparent banking solutions. In 2025, it was featured in major financial publications, including American Banker, The Wall Street Journal, and The Motley Fool, for its innovative banking model. It was also recognised with industry awards for its high-yield savings account and loan offerings.

Jenius Bank operates under a leadership team with extensive experience in banking and technology. John Rosenfeld, the President, previously held leadership roles at GE, Bank of America, TD Bank, and Citizens Bank. Other key executives include Tracey Dunlap, who leads customer experience design, and Dan Struble, who works on financial wellness solutions. The team aims to create a more customer-friendly banking experience by removing unnecessary fees and offering competitive financial products.

Jenius Bank continues to expand its presence across the United States, serving customers in 39 states. It remains focused on digital innovation, offering mobile banking tools and 24/7 customer support. 

As of 2025, the bank maintains its position as a growing digital financial institution, prioritising transparency and efficiency in banking services.

Jenius Bank aims to make banking simple, transparent, and accessible by using digital technology to improve financial services. It focuses on removing unnecessary fees, offering competitive interest rates, and providing customers with useful financial tools. The bank seeks to create a better banking experience by using technology to reduce costs and pass benefits to customers. It prioritises security, financial education, and customer support to help people manage their money effectively. By focusing on digital banking, Jenius Bank works to offer reliable and efficient financial solutions while ensuring that customers have full control over their finances in a secure environment.

Jenius Bank envisions a future where banking is fully digital, convenient, and beneficial for customers. It aims to empower individuals with better financial tools, higher savings returns, and easy-to-use banking services. The bank seeks to remove complex processes and unnecessary costs to make banking simple and efficient. By using technology, it wants to provide customers with real-time insights and security for their financial needs. Jenius Bank’s vision is to lead the shift towards fully digital banking, offering services that are accessible to everyone while maintaining strong financial stability, customer trust, and a commitment to continuous improvement in banking solutions.

Jenius Bank has received several awards and recognition for its digital banking services. It has been named Best Newcomer Bank 2025 by Bankrate and recognised for having one of the Best High-Yield Savings Accounts by GOBankingRates. The Digital Banker Global Retail Banking Innovation Awards awarded Jenius Bank Best Savings Product and Best Lending Product in 2025. The bank has also been featured in major financial publications such as The Wall Street Journal, American Banker, and The Motley Fool for its innovative banking model. These awards highlight Jenius Bank’s commitment to providing competitive savings rates, transparent loans, and excellent digital banking services.

Jenius Bank offers a range of digital banking products and services designed to provide customers with simple, secure, and efficient financial solutions. The bank focuses on high-yield savings, personal loans, and advanced financial management tools. It operates as a fully digital bank, ensuring that customers can access its services online and through its mobile app without the need for physical branches.

The Jenius Savings Account is one of the key products offered by the bank. It provides a high annual percentage yield (APY) of 5.25%, which is significantly higher than the national average. The account has no minimum balance requirements and no fees, allowing customers to grow their savings without hidden charges. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, ensuring security for account holders. Customers can transfer money, check balances, and manage their accounts through the Jenius Bank mobile app. The savings account is designed to offer a simple and efficient way for customers to earn more interest on their savings while maintaining easy access to their funds.

Jenius Bank also offers personal loans with competitive fixed interest rates ranging from 7.49% to 22.49% APR. The loans have no fees, meaning customers are not charged for loan origination, prepayment, or late payments. Customers can borrow amounts ranging from $5,000 to $50,000, depending on their eligibility. The application process is fully digital, allowing customers to apply online and receive a quick decision. Funds are disbursed as early as the next business day once approved. These loans are designed for various needs, including debt consolidation, home improvements, major purchases, and unexpected expenses. Jenius Bank ensures that customers have access to affordable financing options without the burden of extra fees.

To enhance financial security, Jenius Bank provides fraud monitoring services. The bank continuously monitors transactions for any suspicious activity and alerts customers immediately if any potential fraud is detected. This feature helps protect account holders from identity theft and unauthorised transactions. The bank also uses advanced encryption and security protocols to safeguard customer information.

Jenius Bank offers a range of digital banking tools to help customers manage their finances efficiently. These tools allow users to consolidate financial data from multiple accounts in one place, making it easier to track expenses, savings, and loan repayments. The bank provides real-time insights and personalised financial advice to help customers make informed financial decisions.

Another key feature is the 24/7 customer support service. Customers can reach out for assistance at any time through phone, chat, or email. The support team is available to help with account management, loan applications, and general banking queries. Unlike traditional banks, Jenius Bank focuses on providing immediate and efficient customer service to enhance user experience.

The bank ensures that all its products come with no hidden fees, providing customers with transparency in banking. Whether it is savings accounts or personal loans, Jenius Bank aims to make financial services straightforward and accessible. It continues to expand its product offerings, ensuring that customers have secure, competitive, and reliable banking solutions.