Jenius Bank, a digital banking subsidiary of SMBC Group, has introduced personal loans to empower customers with smarter banking solutions.

Personal loans have been made available by Jenius Bank, the California-chartered bank’s digital banking business and a wholly-owned subsidiary of SMBC Group. According to data, 78% of millennials are dissatisfied with conventional banking procedures, and 81% want their bank to offer advice on how to achieve their financial objectives. This illustrates the requirement for an all-encompassing new strategy to create individualized banking experiences. In keeping with this, Jenius Bank wants to serve the US market as a full-service bank. It intends to introduce more products in the upcoming months. These consist of a mobile app and a savings product.

“Jenius Bank’s personal loans launch continues to fuel our mission to empower customers with smarter banking so they can create a richer life for themselves,” said John Rosenfeld, president of Jenius Bank. Personal loans give customers the chance to save thousands of dollars on higher-rate debt. Our personal loans with flexible terms and low rates are a terrific option in a situation where many people are trying to save money and reduce debt.

Utilizing data’s power to one’s advantage

Additionally, Jenius Bank will use technology to make understanding personal finances simpler. It will accomplish this by enabling the consolidation of all money management in a future user-friendly app. The bank wants to demonstrate to consumers how they may gain from the power of data as financial services grow more and more reliant on cutting-edge technology. While doing so, it nonetheless strives to keep a strong human element in its banking relationships.

A well-established and comprehensive program of consumer research is used by Jenius Bank to personalize banking and inform product development with direct customer feedback. Jenius Bank also provides US-based, round-the-clock, first-rate customer care through phone or online, always with the consumer in mind.

Personal loans are the first step in Jenius Bank’s development of a full-service product suite that reimagines how the industry functions today, according to Andrew Harris, EVP, head of product at Jenius Bank.

Our goal is to personalize products by combining technology advancements with a focus on the needs of the client. Modern technology allows us to provide our customers with a banking experience that is customized to their needs and interests. Unlike many traditional banks, our products are specifically created to best suit customer interests. We want to work together to support people in achieving their financial goals.

Jenius Bank
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