Jenius Bank's ‘special sauce': Keeping it simple, with a little parent company help [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: Yahoo! Finance
Its second product, a high-yield savings account with a 5.25% annual percentage yield, was rolled out in November. But don't call the folks there newbies. Jenius is backed by Japanese megabank Sumitomo Mitsui Banking Corp., a company with hundreds of years of banking history. Banking Dive sat down with Jenius Bank President John Rosenfeld to discuss what's fueled the bank's growth in the past year, and what the bank is looking forward to in the future. Editor's note: This interview has been edited for clarity and brevity. BANKING DIVE: Jenius recently hit $1 billion in deposits in its high yield savings accounts, after launching that product in November. What's the special sauce to rapid growth? JOHN ROSENFELD: When our parent company set out to build a digital consumer bank in the U.S., they brought me on because I had done it in the past, and they gave us the funding, the autonomy and the opportunity to start with a blank sheet of paper. We didn't have existing customers
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News
- More Stocks Trade Below Book Value in Japan Despite Reforms [Yahoo! Finance]Yahoo! Finance
- Top Japan Bankers Predict Share Gains, BOJ Rates at 1% [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Top Japan Bankers Predict More Share Gains, BOJ Rates at 1% [BNN Bloomberg (Canada)]BNN Bloomberg
- Toyota chairman coming under pressure due to scandals [Yahoo! Finance]Yahoo! Finance
- Here's why Japan's stocks are plunging after Shigeru Ishiba's win [CNBC]CNBC
SMFG
Sec Filings
- 10/1/24 - Form 424B3
- 8/14/24 - Form 6-K
- 8/13/24 - Form 13F-HR
- SMFG's page on the SEC website