New York, NY, June 18, 2019 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest-growing mobile-first bank, announced that Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer, will be speaking at the FORTUNE Brainstorm Finance conference. Sidhu will participate on the “Will Banks Matter in the Future?” panel, taking place June 20, 2019 at 11:25am EDT.
“I am thrilled to be speaking at the inaugural FORTUNE Brainstorm Finance conference, hosted by one of the preeminent thought leaders in the industry,” stated Sidhu. “Technology is finally disrupting banking and fintech is making significant impacts around the customer experience and the customer acquisition model. I look forward to discussing the future of the industry with a panel of fellow innovators transforming banking.”
Sidhu’s panel will focus on how challenger banks are becoming competitive with large Wall Street institutions. Panelists will have “A discussion about how these tech-driven, online-only upstarts aim to compete with their traditional predecessors, and what it means when so many companies suddenly want to be banks.” The panel will be introduced by Andrei Cherny, CEO, Aspiration, and moderated by Jen Wieczner, senior writer, FORTUNE. In addition to Sidhu, the panelists will be Chris Britt, Founder and CEO, Chime, and Kenneth Lin, Founder and CEO, Credit Karma.
Sidhu was named “Fintech Woman of the Year” by LendIt in 2019 and oversees strategy for BankMobile, which was named “Most Innovative Bank” by LendIt. Under her leadership, BankMobile has grown to over two million customers, placing it in the Top 15 banks in the U.S. in terms of number of consumer checking accounts serviced. The bank has developed its own proprietary technology, which was built to attract and engage customers for full-service consumer banking with a focus on outstanding customer experience delivered in the most compliant fashion.
Today, BankMobile provides its disruptive, multi-partner distribution model, Banking-as-a-Service (BaaS) platform, to colleges and universities through BankMobile Disbursements, which serves more than five million students on nearly 800 campuses nationwide. Through this distribution channel, BankMobile serves one in every three college students in the country. The company has expanded its BaaS strategy most recently with T-Mobile for the launch of T-Mobile MONEY.
Brainstorm Finance will bring together established financial institutions with new startups and fintech, blockchain and venture companies to discuss the future of finance. The conference will take place at Gurney’s Montauk Resort in Montauk, NY on June 19-20, 2019.
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About BankMobile
Established in 2015, BankMobile is a division of Customers Bank and among the largest and fastest-growing mobile-first banking platforms in the U.S., 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.). It is one of the Top 15 largest banks in the country, as measured by checking accounts. 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 $10.1 billion in assets as of March 31, 2019, 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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