Customers Bank launches mobile-only offshoot

Source: Customers Bank

BankMobile, a division of Customers Bank (CUBI), the first and only bank offering a no fee, purely mobile and tablet banking platform, today announced its official phase one launch.

Through crowdsourcing, Customers Bank recognized a need to disrupt the current banking experience to make it more effortless, enjoyable and financially empowering and created BankMobile. At launch, BankMobile will offer checking, savings, lines of credit and joint accounts. Because of its no fee structure, it is set to financially empower customers, especially Millennials, middle class Americans, the underbanked, Gen X and tech-savvy Baby Boomers.

BankMobile will also provide customers access to over 55,000 surcharge-free ATMs, a higher savings rate than any of the top four banks in the nation, a personal banker and access to a free financial advisor.

"We are thrilled to officially launch BankMobile," stated Luvleen Sidhu, Chief Strategy & Marketing Officer of BankMobile. "We are here to revolutionize banking, to help those who have often been victimized by the industry through excessive fees and we will always be a bank built by, and for, the people."

Sidhu has worked in tandem with her father Jay Sidhu, Chief Executive Officer of Customers Bank and BankMobile, as well as Warren Taylor, President, BankMobile, to create the first true mobile first bank.

"Innovation has stalled in the banking industry; while the rest of the world is in the digital age, banking remains stagnant," stated Jay Sidhu. "We are here to change this and bring banking to the 21st century. We will ensure our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience - different from anything they have experienced before."

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