Sumitomo Mitsui Financial Group, Inc. announced that it will strengthen its presence in the U.S. with a new digital consumer banking business. John Rosenfeld is President of Jenius Bank. He has over 20 years of experience in the financial services industry, including serving as the founder and President of Citizens Access, an online direct bank of Citizens Bank.

Jenius Bank™ will launch and operate as a new division of Manufacturers Bank, a California state-chartered bank that is a wholly-owned subsidiary of SMBC Group. Leaning into a digital-first strategy, Jenius Bank has partnered with several leading technology providers to bring together an integrated platform that will deliver on consumers' holistic needs. Jenius Bank's competitive differentiation also extends to its workforce, leveraging a predominantly remote employee base.

Jenius Bank has assembled an executive team of proven leaders from both leading banks, as well as best-in-class digital experience companies, and it expects to continue growing staff based on their expertise, not their geography.