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Jenius Bank

Full company profile

uuid003wamh

Namestring
Jenius Bank
Legal namestring
SMBC MANUBANK
Websiteurl
jeniusbank.com
Company typeenum
Private
Founded yearstring
-
Descriptiontext

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.

Short descriptiontext

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.

Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersPhiladelphia, United States
HQ citystring
Philadelphia
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
high-yield savings accounts, personal loans, online banking, digital banking, FDIC-insured deposits
Industry2 codes
1Digital Banking & Neobank Platforms
CodeBPAMAFADPrimaryYes
2Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment)
CodeFSAKAAAKPrimaryNo
NAICS code2 codes
  • Depository Credit Intermediation5221
  • Commercial Banking522110
SIC code2 codes
  • State Commercial Banks6022
  • Personal Credit Institutions6141
Product category
Digital Banking
Social media profiles2 records
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model2 records
1Interest Income from Personal Loans
TypeSubscription Recurring
Description

Generated revenue through interest charged on personal loans extended to customers.

finance.yahoo.com
2Deposit Funding and Interest Spread
TypeSubscription Recurring
Description

Accepted customer deposits and deployed funds, earning interest spread between lending and deposit rates.

jeniusbank.com
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Pricing details1 tier
1High-Yield Savings Account with competitive APY rates
ModelSubscriptionBilling cadenceMonthly
Notes

Competitive rates, no fees. The bank featured rates significantly higher than the national average of approximately 0.61% as of late 2025. Currently not accepting new applications.

finance.yahoo.com
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

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.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

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).

Product and service2 records
1Jenius Savings
CategorySavings Accounts
Description

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.

2Personal Loans
CategoryPersonal Loans
Description

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.

Scale indicator3 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
1Launch Servicing
Strategic tierCoreTypeChannel Partner/ Reseller/ DistributorAnnounced on2026-06-13
Description

Personal 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.

2Axos Bank
Strategic tierCoreTypeChannel Partner/ Reseller/ DistributorAnnounced on2026-05-04
Description

Savings 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.

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight3 records

Each record includes

Type, Description

Market position
Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat2 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance4 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Jenius Bank

Digital Bankingjeniusbank.com

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.

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

  • High-yield savings accounts
  • Personal loans
  • Online banking
  • Digital banking
  • FDIC-insured deposits

Where Jenius Bank is headquartered

Location

Headquarters

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

  1. Interest Income from Personal Loans: Generated revenue through interest charged on personal loans extended to customers.
  2. Deposit Funding and Interest Spread: Accepted customer deposits and deployed funds, earning interest spread between lending and deposit rates.

Pricing tiers

ModelBillingPrice
SubscriptionMonthlyHigh-Yield Savings Account with competitive APY rates

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Jenius Bank product offering

Product offering

Core 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 profile

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Jenius Bank technology and API

Technology

Technology 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 signal

Partnerships

Two partnerships are on record, tiered core.

  • Launch ServicingcoreChannel Partner/ Reseller/ Distributor · 13 June 2026Personal 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 BankcoreChannel Partner/ Reseller/ Distributor · 4 May 2026Savings 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 assessment

Market position

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Jenius Bank social profiles

Digital presence

Jenius Bank compliance and trust

Trust signal

Compliance4 records

Jenius Bank financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Jenius Bank leadership team

Management profile

Number of profiles

Jenius Bank funding detail

Funding detail

Funding 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 investment

M&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.

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Live signals
Investing.comEarnings call transcript: Axos beats Q4 2026 estimates as shares rise after hours By Investing.comAxos Financial reported Q4 fiscal 2026 earnings that beat Wall Street estimates, with diluted EPS of $2.53 versus the $2.16 forecast, and revenue of $379.77 million exceeding the $376.59 million expectation. Net income rose 12.9% year-over-year to $124.9 million, while shares rose 2.05% after hours to $100.50. The bank highlighted continued loan growth, improved credit quality, and recent acquisitions including Jenius Bank and Arc Technologies, with management expecting stable net interest margin and low-to-mid-teen annual loan growth.Business Wire BlogAxos Financial, Inc. Reports Fiscal Year 2026 ResultsAxos Financial reported Q2 FY2026 net income of $124.9 million and diluted EPS of $2.16, up 12.5% year-over-year. Adjusted EPS rose to $2.53, and total assets reached $30.0 billion. The company closed the Jenius Bank acquisition in May, adding $2.3 billion in deposits.FinTech FuturesSMBC to wind down US-based digital banking unit Jenius BankSMBC has announced the wind-down of Jenius Bank, its US-based digital banking unit, including suspending new account openings and loan originations. Over 160 employees are set to be laid off according to a WARN notice, with employment ending in March 2026 after the 60-day notice period. Existing accounts will continue to be serviced until the platform is fully shut down, though an official closure date has not been announced.Naples Daily NewsJapanese banking giant SMBC closing digital bank, cutting jobsJapanese banking giant SMBC Group is closing its U.S. digital-only banking unit, Jenius Bank, resulting in the elimination of 163 positions across multiple states. The job cuts include 14 positions in Florida, affecting locations such as Fort Myers, Bonita Springs, and Marco Island, including the unit's president and chief information officer. The cuts are effective on or about March 10, marking SMBC's strategic exit from the U.S. digital banking market.Banking DiveJenius Bank employees say the bank is closingJenius Bank, a digital banking division of Sumitomo Mitsui Banking Corp. (SMBC), is shutting down according to several former employees who were informed during a virtual all-hands meeting on Thursday. Takeshi Okamoto, chair and CEO of Jenius' legal entity SMBC Manubank, told staff the closure was due in part to market performance and the digital bank not being profitable as quickly as the parent company wanted. Employees reported being locked out of work systems within minutes of the meeting, with some hired less than six months ago describing feeling "sold a lie" after being recruited with promises of workforce expansion and new products.YahooJenius Bank vs. SoFi: Which online-only bank is better?The article compares Jenius Bank and SoFi as online-only banking options, highlighting differences in their product offerings such as checking accounts, savings rates, and additional financial services. It notes that while both institutions offer competitive high-yield savings accounts with no monthly fees, SoFi provides a broader suite of products including loans and investing, whereas Jenius Bank focuses primarily on personal loans and savings.YahooFinancial Wellness Expert: Money Can’t Buy Happiness, But These Money Secrets Might HelpJulie Guntrip, head of financial wellness at Jenius Bank, shared four habits to reduce money stress: learning financial basics, using budgeting as self-care, spending with purpose, and focusing on one's own path. She argues that once a certain income level is reached, financial management affects peace of mind.YahooJenius Bank review (2026): Simple online banking with competitive rates and no feesJenius Bank, the digital division of SMBC MANUBANK, offers high-yield savings accounts with a 4.05% APY and personal loans ranging from $5,000 to $50,000 without monthly fees or minimum balance requirements. The bank operates exclusively online with 24/7 customer service and FDIC-insured deposits, though it currently restricts new applications for both products in most jurisdictions. Its parent company, SMBC Americas Holdings, Inc., is part of the larger SMBC Group.MediumSMBC Group’s Jenius Bank surpasses $1 Billion in depositsJenius Bank, the digital banking division of SMBC MANUBANK (a subsidiary of SMBC Group based in Los Angeles), has surpassed $1 billion in deposit balance for its high-yield savings product, reaching the milestone in less than a year since its 2023 launch. The bank currently offers a market-leading rate of 5.25% APY, with its loan balance also exceeding $700 million, demonstrating stable growth. SMBC Group aims to expand Jenius Bank's products and features as part of its strategy to capture growth in the large U.S. retail banking market.Banking DiveJenius Bank debuts personal loan productJenius Bank, a digital-only division of Manufacturers Bank, launched its personal loan product last week. CEO John Rosenfeld said the firm will roll out savings and checking accounts later this year, with Sumitomo Mitsui Banking Corp. investing $150 million. He plans to differentiate through 24/7 customer service and an app that aggregates money management.