Jenius Bank, launched in 2023 by SMBC MANUBANK, is thriving by surpassing $1 billion in deposits and launching a new customer-friendly app. Unlike traditional digital banks that faded, Jenius capitalizes on a clean slate to innovate banking without cumbersome fees. The new app enhances customer experience by tracking spending, providing insights, and managing subscriptions, emphasizing a commitment to customer engagement and satisfaction. President John Rosenfeld highlights removing outdated banking practices as key to their strategy, catering to desires for transparency and confidence in financial decisions.
"Customers don't like getting hit with a fee when they make a mistake, or when they don't remember to make their payment on time. So it's kind of like a slap in the face when they get hit with a fee on top of that."
"At launch in 2023, Jenius Bank started out as a web-based experience, utilizing third party software. We used a third party user experience layer to get out the door and to begin testing with customers."
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