The Bank Slate


Digital-only Jenius Bank debuts with personal loan product

Jenius Bank, the digital-only division of Manufacturers Bank in Los Angeles, has debuted a new personal loan product.

Jenius, which is supported by Japan’s Sumitomo Mitsui Banking, is planning other products, including savings and checking accounts and a mobile app.

“Jenius Bank’s personal loans launch continues to fuel our mission to empower customers with smarter banking to create a richer life for themselves,” John Rosenfeld, the bank’s president, said in a press release.

“Personal loans offer the ability for customers to save thousands on higher-rate debt. In an environment where many are looking to save and pay down debt, our personal loans with flexible terms and discounted rates are a great option,” Rosenfeld added.

Manufacturers Bank has $5 billion of assets.

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