New York, NY, Jan. 23, 2020 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and among America’s largest and fastest-growing digital banks, today announced that Executive Chairman Jay Sidhu, who is also the Chairman and CEO of Customers Bancorp, will be speaking at the upcoming Paris FinTech Forum. Sidhu and Anthony Jenkins, Executive Chairman, 10x Future Technologies Group, will have a joint session entitled, “Is technology the future of financial services?” which will take place on January 28, 2020 at 2:30pm CET. Sidhu will also participate in the “Ask me anything sessions with Fintech CEOs,” which will be moderated by Feliz Hass, Chair of Bits & Pretzels, and Johan Lorenzen, Serial Fintech Entrepreneur, at 4pm CET. The Paris FinTech Forum is a two-day conference that brings together CEOs and executives from banks, insurance companies, regulators and fintech companies from all over the world to discuss the latest advancements in the industry.

“I am excited to return to the Paris FinTech Forum for the second year in a row and discuss why I think technology is transforming the financial services industry,” stated Sidhu. “Customers Bancorp has invested in BankMobile heavily over the past five years in order to build a transparent, simple and financially-empowering bank. We are particularly committed to developing the best-in-class technology infrastructure, with over 40% of BankMobile’s employees focused on technology development and user experience design. We think technology is changing the way the industry operates and will continue to do so. I look forward to sharing my insights with the audience about the importance of this digital disruption.”

During his sessions, Sidhu will discuss how he cofounded BankMobile five years, its focus on using technology to innovate and technology’s impact on the industry. Launched in January 2015, BankMobile’s mission is to provide a mobile-first bank that is fully compliant, simple, affordable and financially empowering. Over the past five years, BankMobile has grown to be in the Top 15 banks in the U.S. in terms of number of consumer checking accounts serviced.

Named “Most Innovative Bank” by LendIt in 2019, BankMobile has also developed its own proprietary technology meant to attract and engage customers for full-service consumer banking with a focus on exceptional customer experience. The bank also has a disruptive, multi-partner distribution model, known as “Banking-as-a-Service” (BaaS). Today, BankMobile provides its 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.

BankMobile also recently announced it will offer a two-day paycheck advance, a savings account with a rate that is equal or higher than that offered by Marcus, Ally and Capital One 360, and a team of personal bankers for every direct deposit customer. All three enhancements will be rolled out in the first quarter of 2020.

Sidhu will also be discussing BankMobile’s latest developments during his sessions at the Paris Fintech Forum. The forum is taking place on January 28-29, 2020 at Palais Brongniart in Paris.

 

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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 $11.7 billion in assets as of September 30, 2019, offering commercial and consumer banking services along the I-95 corridor from Greater Washington 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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• Jay Sidhu

Kati Waldenburg
BankMobile
2128053014
kwaldenburg@rubensteinpr.com