BankMobile, America’s first no-fee, mobile, tablet and online bank, has had a phenomenal start, acquiring 100,000 customers less than a year after its launch. By maintaining this pace, it can rise to 2 million customers by July 2016.
Its parent company, Customers Bank has been busy developing customer acquisition strategies in order to tap the Gen X and millennial market. It has also acquired One Account Student Checking business and related Refund Management Disbursement business of Higher One, Inc., a service which already has 900 higher education campuses across the United States under its belt, for providing refund disbursements.
BankMobile is set to become one of the top 25 banks in the nation by 2016 in terms of number of consumer checking accounts and nearly 500,000 new student checking accounts will be added each year.
"This acquisition positions BankMobile to be the primary banking relationship for these millennial and Gen X students as they graduate, evolve into young professionals, and start their own families," expressed Jay Sidhu, Chief Executive Officer of BankMobile and Customers Bank. "Our vision of providing financial freedom to millennials and the underbanked through BankMobile has very quickly become a reality. There is no bank in the country that has achieved the level of success that BankMobile has within its first year of launch."
Its parent company, Customers Bank has been busy developing customer acquisition strategies in order to tap the Gen X and millennial market. It has also acquired One Account Student Checking business and related Refund Management Disbursement business of Higher One, Inc., a service which already has 900 higher education campuses across the United States under its belt, for providing refund disbursements.
BankMobile is set to become one of the top 25 banks in the nation by 2016 in terms of number of consumer checking accounts and nearly 500,000 new student checking accounts will be added each year.
"This acquisition positions BankMobile to be the primary banking relationship for these millennial and Gen X students as they graduate, evolve into young professionals, and start their own families," expressed Jay Sidhu, Chief Executive Officer of BankMobile and Customers Bank. "Our vision of providing financial freedom to millennials and the underbanked through BankMobile has very quickly become a reality. There is no bank in the country that has achieved the level of success that BankMobile has within its first year of launch."
"It is truly exciting that BankMobile can now provide affordable, effortless and financially empowering banking to a large number of students across the United States, who are burdened by student debt, high fees from banks, and lack access to financial education to help them make prudent financial decisions," said Luvleen Sidhu, Chief Strategy & Marketing Officer of BankMobile, while talking about the priority of providing effective student loans in the country.
"Our mission has and always will be to financially empower our customers and we look forward to not only providing traditional banking services but also the tools and personal guidance they need to build a financially stable life." She added.
One of the reasons BankMobile is generating interest among customers is their free checking and savings account service and an access to more than 55,000 surcharge free ATMs in the USA.
"By providing a superior product that is easier to use and is more affordable, we hope to create the 'Uber of Banking' at BankMobile," Jay Sidhu said.
Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company in Wyomissing, Pennsylvania and has a board of directors including Bhanu Choudhrie, the founder of London based company, C&C Alpha Group.
No comments:
Post a Comment