Customers Bank Launches BankMobile: America's First And Only No Fee Mobile Bank

Revolutionary Full-Service Bank Set to Disrupt Market

Jan 14, 2015, 10:15 ET from BankMobile

NEW YORK, Jan. 14, 2015 /PRNewswire/ -- BankMobile, a division of Customers Bank (NYSE: CUBI), the first and only bank offering a no fee, purely mobile and tablet banking platform, today announced its official phase one launch. To commemorate this landmark event, Customers Bank and BankMobile executives will host a press conference at The Harvard Club of New York, starting at 11:00 AM EST on January 14, 2015.

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."

BankMobile leverages the latest technology and security measures to allow users to have a bank in their pocket and enjoy the freedom of banking wherever and whenever they want.

"This is just the beginning of our journey as a company," added Warren Taylor. "We know that what we have here is groundbreaking, and we look forward to sharing updates with those who seek to become a part of the BankMobile family."

BankMobile's executive offices are located at 99 Park Avenue, New York, New York. To "Join the Revolution" by becoming a customer, please download the app from Google Play or the Apple Store.

About BankMobile: Established in 2014, BankMobile is a division of 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

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 NYSE (CUBI). Additional information about Customers Bancorp, Inc. can be found on the company's website,

SOURCE BankMobile