SMFG - Sumitomo Mitsui Financial to bolster U.S. presence with digital consumer banking unit

• Japan's Sumitomo Mitsui Financial ( NYSE: SMFG ) said Monday that it's set to strengthen its presence in the U.S. with the i ntroduction of Jenius Bank , a new digital-powered consumer banking business.
• Jenius Bank will operate as a division of Manufacturers Bank, a California state-chartered bank that is a wholly-owned subsidiary of SMBC Group, the subsidiaries of Sumitomo Mitsui ( SMFG ).
• In the coming months, Jenius will commence its offerings with personal loans and then expand with savings and checking products within its first year.
• “Jenius Bank will be a leader in data and technology, using information to provide personalized insights for consumers seeking to make the most of their money, not just manage it,” said John Rosenfeld, the president of Jenius who has over 20 years of experience in the financial services industry.
• In July, Jefferies Financial, SMBC forms alliance to drive growth .

For further details see: