BankMobile To Ask Customers To Participate In Design And Marketing Of New Banking Platform

LAS VEGAS, Nov. 3, 2014 /PRNewswire/ -- BankMobile, a division of Customers Bank (NASDAQ: CUBI), which is offering a purely mobile and tablet banking platform with absolutely no fees for the customer, is seeking customer feedback on the mobile banking platform as part of its beta-testing phase later this year.

BankMobile will utilize the responses of the first 5,000 people that sign up for the company's first-ever fully mobile banking platform, which will be offering completely free checking accounts with absolutely no fees, a high-yield savings account, and lines of credit. All of these features will be part of the exceptionally functional applications custom-tailored for Android and Apple devices.

"We want to create a bank for Millennials, built by Millennials. We will launch in our most basic form, and then use crowdsourcing to co-build a bank with Millennials that they can finally feel they love," said Luvleen Sidhu, Chief Strategy Officer, BankMobile.

Upon its launch, BankMobile's unique value proposition will include:

1. A branch experience in the palm of your hand, plus access to financial consultants who will provide basic financial education specifically geared toward millennials;
2. Absolutely no fees, including no overdraft fees; 
3. Higher rates on savings accounts, with at least 0.25% higher rates than the largest four banks in the United States;
4. Access to 55,000 fee-free ATMs across the country – more than three times the amount of Bank of America ATMs;
5. Access to a line of credit up to $5,000.

Chief Executive Officer of Customers Bank and BankMobile, Jay Sidhu, adds, "In order to help us build something that is truly for – and by the people – we want to make sure that all voices in this phase are heard. Our success is collective, and we want people to know that the bank of the future is here today."

BankMobile was first announced at the Customers Bank analyst day on May 14, 2014. It has been eagerly anticipated, and the executives are excited to enter this important phase for the Bank. For details about how to sign up for BankMobile, and potentially be one of the first 5,000 beta participants, please go to http://www.bankmobile.com.

Jay Sidhu, Luvleen Sidhu and President, Warren Taylor will be attending the Money 20/20 Conference in Las Vegas this week. Mr. Sidhu will be participating in a panel on "Reinventing Banks for the New Payments Ecosystem" that is taking place on Tuesday, November 4th at 3:30 PM PST.  The Customers Bank booth is located at 113 and MR-2 and the floor plan can be found by clicking this link: https://s4.goeshow.com/money/expo/2014/exhibitor_exhibit_map.cfm.

About BankMobile: Established in 2014, BankMobile is a division of Customers Bank. Based in New York, NY, 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.bankmobile.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 $6.5 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 and New Jersey. 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 in 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

Related Links

http://www.bankmobile.com