SOURCE: BankMobile

BankMobile

April 27, 2017 10:30 ET

BankMobile Launches BankMobile BOLD

Largest Mobile-First Bank in the Country Announces the Next Generation of its Digital Banking Platform

NEW YORK, NY--(Marketwired - April 27, 2017) - BankMobile, a division of Customers Bank, and America's fastest growing mobile-first bank, today announced the release of its new BankMobile BOLD platform. The proprietary technology was developed and built by BankMobile Labs, the internal technology and innovation team at BankMobile.

"We are thrilled to announce that we have evolved our app and the next generation of BankMobile is here!" stated Luvleen Sidhu, President, Co-Founder and Chief Strategy Officer at BankMobile. "This latest upgrade will transform the concept of banking from something consumers feel like they have to do, to something they love doing, so that they can truly create their best financial life!" added Sidhu.

The new BankMobile BOLD app, including the iOS app, Android app, and web banking portal for desktop users, has a completely revamped user experience and contemporary design that will appeal to its customer base. It still has many of the most useful and beloved features of BankMobile's first generation app, but the functionality will be enhanced. In addition, new features and functionality will be included to make a customer's financial life easier.

"We are very proud of our team's new apps and the roadmap of upgrades we have planned over the next few years for our customers," stated Dan Armstrong, Chief Digital Officer at BankMobile. "All the work we've put into launching this platform for our customers has really paid off. What we've built is much more than a bunch of new features: it's a next-generation platform for all forms of branchless banking that delivers a fresh and innovative customer experience, but also protects our customers with built-in cloud scalability and end-to-end security in a way that has not been done before."

BankMobile BOLD will include:

  • Quick Account Opening: New customers can open a BankMobile BOLD account in a matter of minutes by simply entering their information and answering some security questions. BankMobile BOLD can be accessed via mobile app, available for download in the App Store and Google Play, and web banking portal for desktop users.
  • Move Money-Transfer, Pay, and Manage Payees Easily: One smart display helps customers pay a friend, a bill, or transfer money between BankMobile and external accounts. The display even lets customers add a new payee right as they are setting up a payment for added convenience.
  • Big Picture: Big Picture is a new way to visualize all of a customer's interactions with BankMobile. It's easy to see when they set up bills, make payments, update their profile, or even talk to one of BankMobile's team members.
  • Active Register: A next-level account log, the searchable Active Register puts account details at customers' fingertips. They can view account info and payments in an interactive graph, see details about their transactions and have the ability to add notes on the web.
  • Mobile Check Deposit: Customers can effortlessly deposit money via check into their account anytime, from virtually anywhere, using their mobile device's camera. They take a picture of the front and back of their check, enter the amount, and they're done.
  • BOLD VIP: Customers simply deposit $500 in recurring income to their BankMobile BOLD Totally Free Checking account each statement month to become a BankMobile VIP. They then have access to every ATM for free nationwide and free one-on-one sessions with a BankMobile financial coach.
  • BOLD Totally Free Checking Account: No minimum balance requirement, no direct deposit requirements, no monthly fees, no per check charges, no overdraft fees, no transfer fees, no late payment fees -- no fees of any kind. Customers also have access to 55,000 fee-free ATMs nationwide.
  • BOLD High Yield Savings Account: Currently at a 0.75% annual percentage yield (APY) -- a higher interest rate than the top four banks' non-promotional savings rates (the top four banks in the country by deposits are: Wells Fargo, Bank of America, JPMorgan Chase and Citibank as of today). No fees, no minimum balance requirement, and fee-free overdraft protection when customers connect their BOLD Totally Free Checking Account to their BOLD High Yield Savings Account.
  • BOLD Personal Line of Credit: Apply for free, no annual fees and no late payment fees (although we strongly encourage customers to make payments on time to avoid damaging their credit). It can be used as protection against bounced checks or debit card denial, and even as a credit builder. Subject to credit approval.

To learn more about the new BankMobile BOLD platform, please visit: http://www.bankmobile.com.

About BankMobile
Established in 2015, BankMobile, a division of Customers Bank, is America's largest mobile-first bank, offering fee-free checking and savings accounts. It provides target customers -- millennials, the underbanked and middle-income households with a digital, effortless, and financially empowering experience. BankMobile offers checking, savings, lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs nationwide (BankMobile VIP customers have free access to every ATM in the country, which is more than 400,000 ATMs), a guaranteed higher savings rate than the top four banks in the nation, a personal banker for all customers, and a free financial advisor for VIP customers. 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.

Image Available: http://www.marketwire.com/library/MwGo/2017/4/18/11G136145/Images/Lifestyle-2-1b5a9c91bd0693e2b4cdc23d155262d3.jpg
Image Available: http://www.marketwire.com/library/MwGo/2017/4/18/11G136145/Images/Lifestyle-1-d2c110b8cb6d812690cf0f0646b44034.jpg

Contact Information