Jenius Bank unveils a tailored savings account, researched for your success, aiming to bridge financial gaps and reduce stress.
A new savings account has been introduced by Jenius Bank, the online branch of Manufacturers Bank, a commercial bank with a state charter in California. Its purpose is to provide consumers with more flexibility and ease when achieving their financial objectives.
The Wall Street Journal claims that Americans are losing out on billions of dollars that they could be making at a higher rate. Given the stark disparity in customer needs, Jenius Bank conducted a thorough and continuous programme of consumer research to determine how a new savings product may support customers in achieving their financial and personal objectives while also lowering stress.
As a result, in an attempt to guarantee that clients’ hard-earned money grows at a faster rate, Jenius Bank is providing a savings rate that leads the industry.
The purpose of Jenius Bank, according to its president John Rosenfeld, is not to provide yet another choice for savings accounts. In the current market, we sought to introduce a product that genuinely addressed the most pressing needs of customers.
“We’ll stick to this strategy when creating the remaining products in our lineup as an additional testament to our dedication to providing our clients with the resources they require to empower themselves through wiser banking and build better lives for themselves.”
Jenius Bank is expanding
Because there is no minimum balance restriction, consumers can open accounts with as little or as much money as they like with the new Jenius Bank product.
Furthermore, deposits are FDIC-insured up to the highest amount permitted by law in order to prioritise the safety and security of client funds. The FDIC insurance limits are computed using the combined deposits of Manufacturers Bank and Jenius Bank.
This launch demonstrates the rapid growth that the new digital bank is experiencing. It comes just months after Jenius Bank’s first launch of personal loans.
“We’re committed to crafting all of our products with great consideration for the insights we receive from our consumer research, and this savings launch is no exception,” said Andrew Harris, managing director and head of product at Jenius Bank.
“We recognised early on in the development process the importance of competitive rates and flexibility in a savings account, and we will keep putting our customers’ needs first to inform future feature rollouts.”
