Jenius Bank
Jenius Bank was a digital-only banking division of SMBC MANUBANK that offered high-yield savings accounts and personal loans exclusively to California residents; operations were wound down in 2026 and the customer book was transferred to Axos Bank and Launch Servicing.
- Company typePrivate
- Founded-
- HeadquartersPhiladelphia, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Jenius Bank does
Jenius Bank was a digital-only banking division of SMBC MANUBANK, itself a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC). Operating exclusively online without physical branches, the platform served individual consumers in California through two core products: Jenius Savings, a high-yield savings account positioned as a fee-free alternative to traditional banks, and a personal loan product. The bank's value proposition centered on competitive interest rates, no fees, FDIC-insured deposits (combined with SMBC MANUBANK for insurance limit calculation), and 24/7 U.S.-based phone customer service. Marketing and distribution were digital-first, leveraging organic search, paid digital advertising, and email/SMS communications.
The business model was a standard digital bank interest-spread operation: customer deposits funded personal loan originations, with revenue generated from net interest margin between lending and deposit rates. The platform targeted a single U.S. state (California) and operated with a lean, fully-remote staff of over 160. In January 2026, parent SMBC announced the wind-down of Jenius Bank, citing market performance and slower-than-expected profitability; the closure was communicated to staff by Takeshi Okamoto, Chair and CEO of SMBC MANUBANK. New account openings and loan originations were suspended, more than 160 employees received WARN notices, and the platform's customer book was migrated to third parties — Axos Bank assumed savings servicing in May 2026, and Launch Servicing took over loan servicing in June 2026. As of mid-2026, Jenius Bank is operationally closed.
Jenius Bank firmographics
Firmographics- Name
- Jenius Bank
- Legal name
- SMBC MANUBANK
- Website
- https://jeniusbank.com
- Company type
- Private
- Operating status
- Closed
- Headcount range
- 101–250 employees
- Short description
- Jenius Bank was a digital-only banking division of SMBC MANUBANK that offered high-yield savings accounts and personal loans exclusively to California residents; operations were wound down in 2026 and the customer book was transferred to Axos Bank and Launch Servicing.
- Ownership category
- akta.pro rank
Jenius Bank industry classification
Industry- Product category
- Digital Banking
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), Personal Credit Institutions (6141)
- akta.pro primary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
- akta.pro secondary industry
- Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
Keywords
Where Jenius Bank is headquartered
LocationHeadquarters
- HQ city
- Philadelphia
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Jenius Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Personal Loans: Generated revenue through interest charged on personal loans extended to customers.
- Deposit Funding and Interest Spread: Accepted customer deposits and deployed funds, earning interest spread between lending and deposit rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | High-Yield Savings Account with competitive APY rates |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Jenius Bank product offering
Product offeringCore offering
Jenius Bank was a digital-only direct-to-consumer banking division of SMBC MANUBANK offering two primary products: Jenius Savings (high-yield savings accounts) and Personal Loans, both delivered exclusively online to California residents. The bank emphasized competitive interest rates, fee-free banking, FDIC-insured deposits, and 24/7 U.S.-based customer service. The platform has wound down operations, with savings accounts transitioned to Axos Bank and loan servicing transitioned to Launch Servicing.
Product overview
Jenius Bank was a digital-only banking platform offering two primary products: high-yield savings accounts (Jenius Savings) and personal loans. The bank operated exclusively online with 24/7 customer service, competitive rates, and no fees. As a division of SMBC MANUBANK (a subsidiary of Sumitomo Mitsui Banking Corporation), the bank offered FDIC insurance protection through its state-chartered status. Additional services included fraud protection, cybersecurity features, and CCPA-compliant privacy controls. Jenius Bank has been winding down operations, with savings accounts transitioned to Axos Bank (May 2026) and loan servicing transferred to Launch Servicing (June 2026).
Differentiator
Problem solved
Functional benefit
Products and services
- Jenius Savings High-yield savings accounts offered by Jenius Bank to California residents via a digital-only online banking platform. Accounts were FDIC-insured through SMBC MANUBANK. Savings customers were transitioned to Axos Bank on May 4, 2026 as part of the wind-down.
- Personal Loans Personal loan products originated online by Jenius Bank for California residents, with no fees as a value proposition. Loan servicing was transitioned to Launch Servicing on June 13, 2026 as part of the wind-down.
Companies that use Jenius Bank
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Jenius Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Jenius Bank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Launch ServicingcorePersonal loan customers transitioned to Launch Servicing on June 13th, 2026. Launch Servicing became the new loan servicer for Jenius Bank personal loans as part of the wind-down process. Customers can contact Launch Servicing at 833-504-0478.
- Axos BankcoreSavings customers were transitioned to Axos Bank on May 4th, 2026. Axos Bank assumed servicing of Jenius Bank savings accounts as part of the wind-down process. Axos Bank provides continued access to savings accounts for former Jenius Bank customers.
Scale indicators3 records
Recent moves4 records
Expansion highlights3 records
Jenius Bank competitors and assessment
Company assessmentMarket position
Weaknesses5 records
Competitive moat2 records
Key risks5 records
Key highlights5 records
Customer concentration
Jenius Bank social profiles
Digital presenceJenius Bank compliance and trust
Trust signalCompliance4 records
Jenius Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jenius Bank leadership team
Management profileNumber of profiles
Jenius Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jenius Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jenius Bank
What does Jenius Bank do?
Jenius Bank was a digital-only direct-to-consumer banking division of SMBC MANUBANK offering two primary products: Jenius Savings (high-yield savings accounts) and Personal Loans, both delivered exclusively online to California residents. The bank emphasized competitive interest rates, fee-free banking, FDIC-insured deposits, and 24/7 U.S.-based customer service. The platform has wound down operations, with savings accounts transitioned to Axos Bank and loan servicing transitioned to Launch Servicing.
Is Jenius Bank a public or private company?
Jenius Bank is a private company. It is classified as corporate owned and is currently closed.
When was Jenius Bank founded?
Jenius Bank was founded in -1. It employs 101 to 250 people.
Where is Jenius Bank based?
Jenius Bank is headquartered in Philadelphia, United States, in the North America region.
How does Jenius Bank make money?
Two revenue lines are on record. Interest Income from Personal Loans are the primary driver. The others are deposit Funding and Interest Spread.
Does Jenius Bank have an API?
No public API is recorded for Jenius Bank.
What industry is Jenius Bank in?
Jenius Bank's product category is Digital Banking. Its primary akta.pro industry code is BPAMAFAD, Digital Banking & Neobank Platforms, with a secondary code of FSAKAAAK, Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment). Its NAICS code is 5221 and its SIC code is 6022.