Luvleen Sidhu, Co-Founder and CEO of BankMobile, Spoke at Tearsheet’s Challengers Conference 2020

Wednesday, 23. September 2020 15:20

New York, NY, Sept. 23, 2020 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and among America’s largest mobile-first banks, today announced that Luvleen Sidhu, Co-Founder and CEO, spoke at Tearsheet’s Challengers Conference 2020: The Future of Digital Banking. Sidhu participated in a fireside chat entitled, “The importance of digital banking during COVID-19 and how BankMobile is navigating the pandemic,” on September 22, 2020.

“I enjoyed speaking at Tearsheet’s Challengers Conference 2020,” stated Luvleen Sidhu, Co-Founder and CEO, BankMobile. “Tearsheet is one of the leading publications focused on technology’s influence on financial services and this conference is providing the opportunity for leaders across the industry to discuss how we are navigating COVID-19. I shared about my own experiences leading BankMobile during the pandemic and how our digital banking model has helped us continue to provide uninterrupted banking services to our customers.”

During her session, Sidhu spoke with Zack Miller, Editor at Tearsheet, about how BankMobile’s digital-only model has been an asset during the pandemic, the strategies that have helped her succeed during this time and how the bank has continued to be innovative. She discussed BankMobile’s white label strategy and also its recent execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers in 2021. Sidhu also focused on the topic of women in the finance C-Suite and how the industry can help support and advance women.

Sidhu was recently selected as one of the Crain’s New York Business 2020 40 Under 40 honorees. She was also named a “Rising Star in Banking & Finance” by Crain’s New York Business earlier this year and was selected as a member of the Lehigh Valley Business “Forty Under 40” list for 2020. Sidhu was also named “Fintech Woman of the Year” by LendIt in 2019.

As the co-founder of BankMobile, Sidhu has overseen the bank’s strategy since launch. She also helped develop the bank’s disruptive, multi-partner distribution model known as “Banking-as-a-Service” (BaaS). Today, BankMobile provides its BaaS platform to colleges and universities through BankMobile Disbursements, which serves more than five million students on nearly 800 campuses nationwide. Through this distribution channel, BankMobile serves one in every three college students in the country.

Tearsheet's Challengers Conference is bringing together top leaders and executives from financial service institutions across the country to discuss what they are doing to continue to operate and thrive in today’s challenging business landscape. It is taking place virtually from September 22-24, 2020.

 

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About BankMobile

Established in 2015, BankMobile Technologies is a division of Customers Bank and is among the largest mobile-first banking platforms in the U.S., offering checking and savings accounts, personal loans and credit cards. BankMobile, named the “Most Innovative Bank” by LendIt Fintech in 2019, provides an alternative banking experience to the traditional model. It is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” BankMobile employs a multi-partner distribution model, known as “Banking-as-a-Service” (BaaS), that enables the company to acquire customers at higher volumes and substantially lower expense than traditional banks. Its efficient operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, BankMobile Technologies provides its BaaS platform to colleges and universities and currently serves over two million account-holders at 722 campuses (covering one out of every three students in the U.S.). BankMobile Technologies is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. BankMobile has signed a definitive Business Combination Agreement to merge with Megalith Financial Acquisition Corp. ("MFAC") (NYSE: MFAC, MFAC.U, MFAC WS), a special purpose acquisition company, in a transaction that is expected to close in the fourth quarter of 2020. BankMobile is a technology company and is not a bank and does not provide banking services. For more information, please visit: www.bankmobile.com.

About Customers Bank

Customers Bank, a subsidiary of Customers Bancorp, Inc. a bank holding company, is a full-service super-community bank with assets of approximately $17.9 billion at June 30, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bancorp, Inc.’s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information can be found on the company’s website, www.customersbank.com.

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Kati Waldenburg
BankMobile
2128053014
kwaldenburg@rubensteinpr.com
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