New York, NY, Oct. 02, 2018 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest-growing mobile-first bank, today announced that Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer, was selected as a 33 Under 33 Award recipient. This award recognizes the most innovative entrepreneurs under the age of 33 in New York City. Sidhu was selected in the “Fortune 500 & Professionals Integrated with Startup Ecosystem” category.
“I am truly excited to have been chosen as an honoree for this year’s 33 Under 33 Awards,” stated Sidhu. “I congratulate my fellow award recipients, we are all disruptors, attempting to transform a wide-range of industries. At BankMobile, we have created a truly customer-obsessed bank and I look forward to continuing our mission to financially empower all of our customers.”
Sidhu was selected for the award because she:
1. Co-founded the largest and fastest-growing digital bank, serving millennials and low- to middle-income Americans with an affordable and tech-savvy banking experience
2. Disrupted branch-based banking and, in the process, helped customers save over $100 million* dollars in bank fees in the last two years
3. Is the author of “Why Can’t Banks Be As Easy As Uber,” which became an international bestseller in less than 24 hours
Under Sidhu’s leadership, BankMobile has grown to have 1.8 million account holders and is also in the top 15 banks in the U.S. in terms of number of consumer checking accounts serviced. Among many accomplishments, she oversaw the launch of BankMobile Vibe Up, a full-service, FDIC-insured checking account designed to grow with everyone through college and beyond; Paradigm Money, a financial website with insights, tips and tools; BankMobile Disbursements; BankMobile Labs; and the BankMobile Foundation. Sidhu was integral in establishing BankMobile’s partnership with Udemy, an open, global marketplace built to improve lives through learning. She is also a member of the BankMobile Board of Directors.
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About BankMobile
Established in 2015, BankMobile is a division of Customers Bank and America’s largest and fastest growing mobile-first bank offering checking and savings accounts and personal loans. BankMobile provides an alternative banking experience to the traditional model and is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” The disruptive, multi-partner distribution model, known as “Bank-as-a-Service,” created by the executive team enables BankMobile to acquire customers at higher volumes and substantially lower expense than traditional banks. Its low-cost operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, BankMobile provides its “Bank-as-a-Service” platform to colleges and universities and currently serves nearly two million account-holders at nearly 800 campuses (covering one out of every three students in the U.S.). BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit: www.bankmobile.com.
*According to the CFPB (Consumer Financial Protection Bureau), the average annual cost of a traditional checking account is more than $118 per year. The average annual cost of owning a BankMobile Vibe account is less than $34 per year, for an average annual savings of more than $84 per student per year!
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