BankMobile Announces Appointment Of Luvleen Sidhu As Chief Strategy Officer

WYOMISSING, Pa., June 11, 2014 /PRNewswire/ -- BankMobile, a division of Customers Bank, which is offering a purely mobile and tablet banking platform, has today announced the appointment of Luvleen Sidhu as Chief Strategy Officer.

Sidhu joins the company ahead of the official launch to spearhead the marketing effort, and position the company for its anticipated rapid growth. Her focus will be to principally target the millennial generation, as they are tech-savvy, tech-dependent and will reap the benefits of what the company considers to be an effortless banking product.  

"We are thrilled that Luvleen has chosen to fill this important role in what we view as a truly unique banking experience," stated Dick Ehst, President, Customers Bank. "Her passion for success and drive to grow a business from the ground-up are welcome assets as we launch this exciting new platform."

"Many of my peers, colleagues and friends are overburdened with debt, and that is true for millennials throughout the country," said Luvleen Sidhu. "BankMobile is offering a solution: a bank with absolutely no fees, higher rates and no minimum balances. We are beginning what we consider a revolution that will disrupt the traditional banking landscape."

While BankMobile's initial target audience will be the millennial generation, the company plans to offer its product to other segments of the population over time. The company is planning to launch in early September, and will be rolling out its products in tiers through the first quarter of 2015.

Luvleen Sidhu was most recently a management consultant at Booz & Co. in their financial services practice. Prior to attending business school at Wharton, she worked as the director of corporate development at Customers Bank. While at the company, Luvleen introduced several growth projects, including partnering with a New York City-based start-up to improve the banking experience through innovative technology. Prior to that role, she was an investment analyst at Neuberger Berman in their hedge fund of funds group. Luvleen holds a Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Arts Degree in Government from Harvard College.

Personally, Luvleen is involved with several social impact projects that Include establishing computer centers in India to educate rural women, and organizing and sponsoring medical camps in underprivileged areas in Punjab.

About BankMobile: Established in 2014, BankMobile is a division of bank holding company Customers Bank. Based in Wyomissing, Pa, BankMobile will engage in traditional banking through a fully mobile platform. Customers Bank is a Federal Reserve regulated and FDIC insured commercial Bank. Customers Bancorp is the bank holding company for Customers Bank. BankMobile will be an independent operating Digital Banking Division of Customers Bank and hence also of Customers Bancorp. For more information, please visit www.customersbank.com.

About Customers Bancorp, Inc. and Customers Bank
Customers Bancorp, Inc. is a bank holding company in Wyomissing, Pa., engaged in banking and related businesses through its subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of $5 billion. A member of the Federal Reserve System and deposits insured by the Federal Deposit Insurance Corporation ("FDIC"), Customers Bank is an equal housing lender that provides a full range of banking services to small- and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts, New Jersey, and Northern Virginia. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. BankMobile, a division of Customers Bank, is a purely mobile banking platform scheduled to launch late summer 2014.

Customers Bancorp, Inc. is listed on the NASDAQ exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the company's website, www.customersbank.com.

SOURCE BankMobile