SOURCE: BankMobile

BankMobile

June 28, 2016 11:00 ET

Luvleen Sidhu, Co-Founder and Chief Strategy Officer of BankMobile, Named One of Bank Innovation's Top 10 'Innovators to Watch' Worldwide

Sidhu Placed #9 out of 44 Innovators Recognized

NEW YORK, NY--(Marketwired - June 28, 2016) - BankMobile, a division of Customers Bank, offers a fee-free, digital banking experience, today announced that Luvleen Sidhu, Co-Founder and Chief Strategy Officer, was named one of Bank Innovation's top 10 "Innovators to Watch" worldwide. Sidhu placed number 9 out of 44 innovators on the 2016 list. Last year, she was also acknowledged, placing number 28.

"I am delighted to be recognized once again by Bank Innovation for this prestigious list and congratulate my fellow honorees," stated Sidhu. "Just this month, we became the largest mobile-first bank in the country with over two million customers, and we look forward to continuing to disrupt the industry. We will always be driven by our mission to help customers achieve financial freedom through our seamless digital banking experience, and look forward to continuing to grow our brand."

The list was compiled by Diana Asatryan, Associate Editor at Bank Innovation. Asatryan states: "In the FI vs tech game, BankMobile can proudly claim to successfully straddle both worlds. Led by Chief Strategy Officer (and millennial) Luvleen Sidhu, the branchless bank aims to win over millennials with Facebook contests, a lifestyle blog, campus trips, and frequent focus groups (comprised of millennials, of course). The strategy seems to be working: BankMobile has just announced of a two-million-customer milestone in less than two years since the official launch.

'My mission here was to create a new standard for banking. We had to really change the model upside down, and deliver a 'wow' experience,' Sidhu told Bank Innovation previously."

Under Sidhu's management, BankMobile announced in June 2016 it now services two million depositors, which means it is likely in the top 25 banks in the country in terms of number of consumer checking accounts. In its first 18 months, BankMobile has made many innovative advances including: creating its VIP Experience, being one of the first banks whose app was available on Apple Watch, the launch of its BankMobilist College Brand Ambassador Program, the establishment of BankMobile Technologies, the launch of BMpowered Radio featuring two weekly podcasts, and the awarding of its Foundation's inaugural Financial Literacy Scholarship.

About BankMobile
Established in 2015, BankMobile, a division of Customers Bank, offers a fee-free digital banking experience. 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.

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