Customers Bank Launches BankMobile: Bank that's Only an App

Customers Bank (NYSE:CUBI), the banking subsidiary of Bhanu Choudhrie led Customers Bancorp, Inc., launched the first phase of its full-service bank app, BankMobile on 14th January, 2015. The first phase of this fee-free mobile and tablet banking platform offers three features- free checking account, savings account and unsecured line of credit up to $5,000 depending on the credit score of an individual.

Stating company’s approach, Ms Luvleen Sidhu, Chief Marketing Officer, Bank Mobile, said, “The Company’s goal this year is to open 25,000 new accounts and 250,000 accounts over a five-year period. In its next phase, which is expected to begin in 60 to 90 days, the app will also feature text and video customer service chats, preapproved auto loans and the ability to search and buy cars nearby”.

Catering to the wired millennial, the app can be easily downloaded while the users can just take a picture of their driver’s license, state ID or passport to auto-populate most of the information required to open an account. Ms Sidhu also added that the app accepts 90% of the state IDs.

Just like the workings of other banking apps, BankMobile facilitates check deposits and paying bills by simply clicking their pictures. The app also allows its users to transfer the money solely via an email address or a phone number.

The first mobile banking platform, that offers traditional banking online, has also paid special attention in mitigating any security risks associated with the transaction. The banking app while connecting to Apple Pay (mobile-payment system) uses multi-layered security checks to protect accounts.

During the official launch of its Beta (first) Phase that took place in the press conference held at The Harvard Club of New York, Mr Sidhu, CEO, Customers Bank and BankMobile, while talking about the true essence of this big picture banking added, “We are here to change 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”.

America's First and Fee Free Mobile Bank is Finally Here!

Customers Bank (NYSE:CUBI), the banking subsidiary of Bhanu Choudhrie’s Customers Bancorp, Inc. officially launches the first and fee- free mobile and tablet banking platform on 14th January, 2015. Commemorating the revolutionary event, the bank hosted a press conference at the Harvard Club of New York.

Since the first announcement of BankMobile during the analyst day of Customers Bank on May 14, 2014, the anticipation for the Beta (Phase One) launch has been mounting, until recently when the branchless banking service officially rolled out to a group of 5,000 customers.

Speaking at the unveiling ceremony, Luvleen Sidhu, Chief Strategy and Marketing Officer, Bank Mobile, said, “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”.

Having identified the need to disrupt the current banking situation with effortless and financially empowering banking facility, the banking revolution endeavours to offer- checking, savings and joint accounts as well as a $5,000 line of credit. In addition, the customers will also have an access to about 55,000 fee-free ATMs across the country. By the middle of this year, BankMobile executive also announced to provide a full range of retail services, including mortgages and auto loans.

Leveraging the latest technology and security measures, the hassle-free banking service, proposes the following facilities:

• A branch experience which fits the palm of hand along with free financial advices from the professionals.

• High rates on saving accounts which are at least .25% higher than those offered by the four largest banks in the United States.

• An access to 55,000 fee-free ATMs across the country- that is more than three times the amount of Bank of America ATMs.

• Access to a line of credit up to $5,000.

• Zero charge, including no overdraft fees.

Thrilled at the launch, Warren Taylor, President, BankMobile, also added, “We know that what we have here is ground-breaking, and we look forward to sharing updates with those who seek to become a part of the BankMobile family”.

‘Never Pay Another Fee’ With This Digital Banking Innovation

Welcome to the Banking Revolution!

Customers Bank, the banking subsidiary of Bhanu Choudhrie's Customers Bancorp Inc. launched BankMobile, a free tablet and mobile banking platform. BankMobile, an independent operating digital banking division of Customers Bank was established in 2014. In the words of Luvleen Sidhu, Chief Strategy officer, BankMobile, “We want to create a bank for Millennials, built by the 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”.

Ever since the official announcement of BankMobile during the analyst day of Customers Bank on 14 May 2014, the anticipation and interest about its Beta Testing Phase has been on a rise. The phase which rolled out in December this year is all set to make use of the responses provided by a group of 5,000 customers.

The testing phase offers free checking accounts, and a savings account with high rate of interest and lines of credit, to put out feelers for its initial use. These features, which are a part of special custom-tailored applications designed for Android and Apple users, are sure to offer the Big Picture Banking to its customers.

Upon its launch, the customers can benefit from exclusive features like:

Own Your Tomorrow - A branch experience, which fits in the palm of hand along with automated spending alerts. It also promises an easy access to financial consultants who will educate the customers with basic financial knowledge.

LIVE FREE. BANK FREE! - “Americans now pay more in overdraft fees every year than they do for fresh vegetables,” observed CRL senior researcher Leslie Parrish. With $32 billion spent in overdraft fees in 2012, BankMobile offering services with no overdraft fees. The absence of overdraft fees is a new age banking revolution.

You sure can’t ask for more! - High rates on saving accounts, which are at least 0.25% higher than those offered by the four largest banks in the United States.

No other bank can claim this- An access to 55,000 fee-free ATMs on a nationwide network- that is more than three times the amount of Bank of America ATMs.

Checking, savings, and a line of credit all in one place- Access to a line of credit up to $5,000.

Customers Bancorp Soon to Be Listed on NYSE

Customers Bancorp, Inc., the parent to Bhanu Choudhrie’s Customers Bank recently announced the transfer of its Voting Common Stock, $ 1 par value per share and its 6.375% Senior Notes Due 2018, from the NASDAQ Global Select Market to the New York Stock Exchange. Approved for listing, Voting Common Stock and Senior Notes are expected to begin trading on NYSE from 30th December, 2014.

Customers Bancorp, Inc., a bank holding company positioned in Wyomissing, Pennsylvania with Bhanu Choudhrie as the Director, is involved in banking and related business processes through its banking subsidiary, Customers Bank (collectively known as “Customers” or “Company”). The bank, which is a member of Federal Reserve System, allows for a whole range of banking services to small and medium sized businesses, professionals, individuals and offices. Engaged in fostering customer loyalty, the bank is committed towards revolutionizing the banking experience for its customers.

Operating through a chain of offices located in Pennsylvania, New York, Rhode Island, Massachusetts, and New Jersey, Customers Bank incorporates industry-leading technology in its various services. Expanding its loan portfolio to small businesses, multi-family projects, mortgage companies and consumers, Customers also made it to the top of Small-Cap Stars financial heaps while exhibiting a potential for big gain and better returns.

Speaking about the new laurel, Jay Sidhu, Chairman and CEO, Customers, said, “Listing Customers’ shares on the NYSE represent an important milestone for us. We now join the many prominent banks that trade on, and benefit from, NYSE’s innovative and proven market model. We believe that listing on NYSE will further raise the profile of our company and provide support and visibility for our current and future shareholders as we continue to deliver solid financial performance”.

Since the transfer is speculated to be completed by December 30, Voting Common Stock and Senior Notes will continue to be traded on NASDAQ under the ticker symbol “CUBI” and “CUBIL” respectively, for that span.

In acknowledgement of this transfer, the representatives from the bank will be honoured by allowing an opportunity to ring the NYSE Closing Bell at 4:00 p.m. on January 7, 2015.

Bhanu Choudhrie's Customers Bank Celebrates Accolades for Chairman, Jay Sidhu

Customers Bank, a banking subsidiary of Bhanu Choudhrie's Customers Bancorp, Inc., is a community-based, full-service bank that offers equal housing lending opportunities to a complete range of small and medium sized-organizations, professionals, individuals and communities. With offices spread across Massachusetts, New York, Pennsylvania, New Jersey and Rhodes Island, the bank is dedicated towards fostering customer loyalty via industry-leading technology and computing.

Listed on NASDAQ, under the symbol CUBI, Customers Bancorp, Inc., gained 5.14% to $18.40 in the early hours of 2nd December making it to the top of Small-Cap Stars Financial Heaps. Offering bigger and better returns than other mega-cap investing organisations, Customers Bancorp Inc.’s daily average volume is 76,134 shares.

Collectively known as ‘Customers’, the bank also announced an increase in its estimated earnings per share for the years 2014 & 2015. In a recent press release the bank communicated it’s per share guidance to shot up with $1.49 to $1.53 and $1.75 to $1.80 for the two consecutive years.

The company owes a major part of its success to Jay Sidhu (Chairman and CEO of Customers). In his visionary statement,  he said, “While we (Customers) are on a right track and our results to date and future expectations reflect on our successes, we are still focused on reaching our two to three year goals of about a 1.0% return on assets, a 12.0% return on equity and efficiency ratio in the 40's."

Recipient of the prestigious ‘Most Admired CEO’ award for the year 2014 in a recent event organised at Philadelphia, Sidhu joined the company in the year 2009 when it was still known as ‘New Century Bank’, a $ 250 million troubled bank. Before leading ‘Customers’, he was the chairman and CEO of Sidhu Advisors, LLC, a private equity and financial consulting organization. His prolific career also includes leading the 17th largest bank in the United States, Sovereign Bank.

Speaking at the occasion, an overwhelmed Sidhu said, “I am honoured to have received this award. I am also blessed to have colleagues and staff who have helped me shape Customers Bank into a company that adheres to our vision of customer service and growth. They have my utmost gratitude and admiration.”

C&C Alpha’s Ananda Spa: An Exotic Getaway

The centuries-old tradition of Indian Ayurveda has fast turned India from a cultural destination into a nirvana of fitness and wellness, attracting several domestic and international tourists each year. With international celebrities vouching for the efficacy of the Indian restorative system, a majority of people these days are willing to experience a healthier escape from the otherwise monotonous and hectic work schedules.

Practiced for over 5,000 years, Ayurveda has become a synonym for rejuvenation and relaxation. A prominent name in Ayurveda spa treatments is Ananda Spa, in the Himalayan foothills, which forms part of the Shanti Hospitality Ltd, of which Bhanu Choudhrie is a Director. Positioned in the tranquillity of Himalayas at 3,000 feet, close to the mythological cities of Haridwar and Rishikesh, this exotic spa destination endeavours to provide treatments, which are founded on Yoga, Vedanta and Ayurveda.

Ananda as the name suggests blissful, springs from an interesting and prolific blend of Ayurveda and Aromatherapy with modern spa technologies for complete wellness of the body. About 260 kms North of New Delhi, Ananda is positioned around Maharaja Palace estate with breath-taking views of Ganges and mountain peaks, which stimulates the mind and spirit to their best potentials.

Some of the primary distinguishing features of the spa destination include Yoga pavilions, landscaped gardens, terraces facing a clear sky, spas equipped with hydrotherapy services, a golf course on its Himalayan axle and Rejuvenation Cuisine.

The eclectic treatments as available in the Spa Resort are meditated to stabilize the three dosha’s, namely-Vata, Pitha and Kapha. The Ayurvedic teachings claim that it is only the harmony and balance between these three, which can warrant complete health to an individual. The fundamental founding of the retreat is instituted on redefining lifestyle to incorporate established Indian wellness regime (of Ayurveda, Vedanta and Yoga) in an individual’s daily schedule.

Known to be one of the most refreshing options for spa holiday and a big name in Resort Spa catalogue by Fashion Lady, the ayurvedic treatments in this Himalayan panorama are tailored to suit the native weather conditions. Use of less oil, slow and synchronised massages and regulation of a nutritious diet are one of the customized services which tourists can benefit from.

Ananda Resort and Spa offer a healthy and revitalising experience in the warmth of Himalayan panorama. Shanti Hospitality Group Ltd offers a range of diverse hotels worldwide. Bhanu Choudhrie is a Director of Shanti Hospitality Group and also private equity company C&C Alpha Group Ltd.

C&C Alpha's Hospitality Portfolio Villa Azur Host Project Ethos Miami Debut

Villa Azur, the hospitality subsidiary of Bhanu Choudhrie's C&C Alpha Group hosted Project Ethos’ debut in Miami on Tuesday 11th November from 8pm to 2am. The event was sponsored by Java Monster Coffee and featured a fashion show of emerging designers, a live art gallery, DJ performances and Java Lounge for the guests to relax and rejuvenate.

Project Ethos - inaugurated at the historic El Rey Theatre on August 27th, 2005 in Los Angeles and is the first of its kind fashion show, art gallery and live concert under a single roof held in just one night. The authenticity of the concept and its fresh approach has made it an instant hit. The project is open to both the industry and the public.

With over 750 guests, the first edition of the project at El Rey turned a real crowd-puller. The foregoing editions have, on average, had a footfall of around 1,500 fashion designers, musicians and artists getting together. Having held its large scale productions at various high-end places like Los Angeles, San Diego, San Francisco, Portland, Las Vegas, Arizona, Chicago and New York, the project inaugurated a landmark debut in Miami this year.

Project Ethos in Miami presented a stimulating roster of designers and other talents -Liberty Garden, Blank Silk, Natalya Toporova Swimwear and Style Mafia, with music by Stephan M. The event, in the presence of live artists like Jake Cordero, Paola Gracey, LisArte and Joshua Oliveria, showcased orchestral music at its very best.

With Java Monster being the official sponsor for the event this year, the guests had all the advantage to enjoy drinks that included Mean Bean, Vanilla Light and Loca Moca.

In the end, it was Villa Azur, restaurant and lounge owned by Bhanu Choudhrie's C&C Alpha Group that turned out a winner by bringing a unique experience to the South Beach with its ultra-romantic décor and sharp service. It welcomed guests from around the globe, making the event a memorable one.