New York, NY, April 09, 2019 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank and America’s largest and fastest-growing mobile-first bank, today announced it has partnered with 15 new colleges and universities across the United States. More than 117,000 additional students now have access to BankMobile Disbursements and the optional BankMobile Vibe checking account.
“We are continuously partnering with new colleges and universities, providing them with our full-service, seamless solutions for refunds and student checking,” stated Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer at BankMobile. “Our approach to banking is customer-centric, and we focus on creating innovative and simple products. We are excited to help financially empower so many new students across the U.S.”
The new partnerships are with Abraham Baldwin Agricultural College System, Alcorn State University, Arizona Western College, Clark Atlanta University, Coastal Bend College, Florida Polytechnic University, Herzing University, Highline College, Sinclair Community College, Suffolk County Community College, SUNY College of Environmental Science and Forestry, Texas Southmost College, University of North Georgia, Wilson Community College and Winston-Salem State University.
“The implementation of the disbursement program, as well as the training with our BankMobile representatives, is off to a great start,” stated Constance Mallette, Vice Chancellor for Finance and Administration at Winston-Salem State University. “Our staff is thrilled to offer our students a great refund management service and access to the BankMobile Vibe checking account.”
Through the partnership, schools can offer digital options to students for depositing funds into existing checking accounts or BankMobile Vibe accounts. The use of the disbursements platform will save the schools hundreds of thousands of dollars.
The BankMobile Vibe checking account offers students access to more than 55,000 fee-free Allpoint® ATMs, a one-of-a-kind recognition program and convenient budgeting tools.
BankMobile now serves one out of every three college students in the U.S. and more than 89 percent of these students choose to receive their refunds electronically. With more than two million current account holders, BankMobile is the largest and fastest mobile-first bank in the country. It is also in the top 15 banks in the U.S.in terms of number of consumer checking accounts serviced.
Visit www.bankmobiledisbursements.com to learn more about BankMobile’s disbursement program. For more information about BankMobile, visit www.bankmobile.com.
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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.
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 are marketed by BankMobile, BankMobile Vibe, and Ascent.
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. Some retail bank clients are afforded Concierge Banking® Services that brings banking to them, when and where they need it. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company with its headquarters located in Phoenixville, Pennsylvania. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.