Sumitomo Mitsui Financial Group, Inc. announced that it will strengthen its presence in the U.S. with a new digital consumer banking business. 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. Jenius Bank will launch in the coming months with personal loans and then expand its offerings with savings and checking products within its first year.

Jenius Bank has established an extensive and ongoing consumer research program that will drive product designs with direct customer input. Built on one of the most modern banking platforms in the industry, Jenius Bank will offer a 100% digital banking experience that delivers on the promise of smarter banking for a richer life.