New York, NY, April 16, 2019 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest-growing mobile-first bank, today announced that LendIt Fintech, the world’s leading event in financial services innovation, selected Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer, as the Fintech Woman of the Year for the LendIt Fintech Industry Awards. The Fintech Woman of the Year award is given to “the senior executive who has demonstrated outstanding leadership, integrity, performance and team-building within her company, while at the same time contributing to advancement of the industry.” BankMobile was also selected as the Most Innovative Bank for 2019.
The third annual LendIt Fintech Industry Awards dinner took place at the Julia Morgan Ballroom in San Francisco on April 9, 2019. Four hundred leaders, innovators and influencers in fintech gathered at the event and winners across 21 categories were announced.
“I am truly honored to be receiving this prestigious award from one of the most renowned global fintech organizations,” stated Sidhu. “Women are continuing to significantly impact this industry and I congratulate all my fellow nominees. I am proud of all of BankMobile’s accomplishments since our launch in 2015 and excited for the year ahead.”
“We congratulate Luvleen on this well-deserved recognition,” stated Jay Sidhu, Chairman and Chief Executive Officer of Customers Bancorp, Customers Bank and BankMobile. “We continue to be thrilled with the progress BankMobile is making in leading the way for transparent, affordable and innovative banking.”
Under Luvleen Sidhu’s leadership, BankMobile has grown to have over two million account holders and is also in the top 15 banks in the U.S. in terms of number of consumer checking accounts serviced. She also helped launch the bank’s new strategy of “Bank-as-a-Service” (BaaS), which enables BankMobile to acquire customers at higher volumes and substantially lower expense than traditional banks. It also helps consumer-oriented businesses get into the banking business, increase their revenue opportunities and build stronger customer loyalty.
Among many other accomplishments, Sidhu also oversees the BankMobile Disbursements business, which now serves more than five million students on nearly 800 campuses nationwide. This means that one in every three college students in the country is exposed to the BankMobile brand and has the option to open a BankMobile Vibe Account, a full-service checking account available to students at campuses that use BankMobile Disbursements. Sidhu has also helped launch Paradigm Money, a financial website with insights, tips and tools, BankMobile Labs, and the BankMobile Foundation. She is also a member of the BankMobile Board of Directors.
Sidhu has been featured regularly in the media including on CNBC and Yahoo Finance and in The Wall Street Journal and Forbes.com, among others. She is also a national and international speaker at industry conferences and at undergraduate and graduate programs. Sidhu is a member of the Young Presidents' Organization. She additionally serves as a mentor to fintech startups.
Sidhu holds a Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Arts degree in Government from Harvard College.
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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, personal loans and credit cards. BankMobile, named the Most Innovative Bank by LendIt Fintech in 2019, provides an alternative banking experience to the traditional model. It 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” (Baas), 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 BaaS platform to colleges and universities and currently serves over 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.
About Customers Bank
Customers Bank is a super-community bank with $9.8 billion in assets as of December 31, 2018, offering commercial and consumer banking services along the I-95 corridor from Washington, DC to Boston; and in Chicago. Commercial products include cash management; commercial and industrial loans; small business loans; SBA government-guaranteed loans; commercial and multi-family real estate loans; and financing for leasing businesses and residential developers.
Customers Bank provides consumer banking services including savings, checking, and money market accounts; certificates of deposit; residential mortgages; and consumer loans. Additional consumer products include “BankMobile Vibe online banking,” marketed by the BankMobile Division and “Ascent Money Market Savings,” marketed by the Customers Bank Digital Banking Division.
Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, “Wow.”
Commercial clients enjoy Single Point of Contact service with one team to handle all banking needs. Retail bank clients are afforded Concierge Banking® Services that brings banking to them, when and where they need it.
Customers Bank, with its headquarters located in Phoenixville, Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding company. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.
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