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SMBC Group's Jenius Bank offers personal loans to US market

Jenius Bank plans to expand its services through savings products and a mobile app.

Sumitomo Mitsui Financial Group (SMFG) and its subsidiaries, collectively known as SMBC Group, have started offering personal loans to US residents.

Through Jenius Bank, a digital division of Manufacturers Bank, it aims to enhance SMBC Group's presence in the US consumer banking market and provide a tailored banking experience to customers based on their preferences. 

Manufacturers Bank is a wholly-owned subsidiary of SMBC Americas Holdings, Inc., part of SMBC Group.

ALSO READ: Sumitomo Mitsui Banking Corporation’s net profit up to $9.34b for FY2022

By prioritising customer feedback and employing a digital-only approach, Jenius Bank plans to expand its offerings in the near future, including savings products and a mobile app. 

Jenius Bank will leverage technology to simplify personal finance management through an upcoming user-friendly app. 

With the increasing influence of advanced technologies in financial services, Jenius Bank aims to demonstrate the advantages of data-driven approaches while preserving a human touch in its banking relationships.

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