As of late, there has been an awakening where more people are open to trying spiritual practices in order to improve their lives. Whether it's meditation, yoga, saying affirmations, or just believing in...
Starting a business is not an easy task. It requires a lot of hard work, dedication, sleepless nights, caffeine, patience, guts, perseverance, and did I mention sleepless nights? Despite that, the reward of...
Luvleen Sidhu, 34
Co-founder and CEO,
the crowded field of financial startups, Luvleen Sidhu has stood out
far from the pack since she launched BankMobile, a financial institution
used by 1.1 million college students in the U.S.
Last year her five-year-old startup become the backbone for
T-Mobile’s banking app. BankMobile generated $85 million in revenue in
2019 and became profitable in the second half of the year. It holds $540
million in deposits.
Few Silicon Valley–backed banking startups have broken through like this.
Sidhu doesn’t come from Silicon Valley, but from Reading, Pa. That’s
where her father ran the local bank and, eventually, many others. Her
parents wanted her to become a doctor; they were disappointed when she
Lehman Brothers went bankrupt the...
Co-founder and chief executive officer, BankMobile
Luvleen Sidhu co-founded BankMobile with a fully digital customer experience and multiple-partner “bank-as-a-service” distribution model. It has since become one of America’s largest and fastest-growing mobile-first banks. BankMobile’s disruptive business model earned recognition from LendIt Fintech, which named BankMobile the Most Innovative Bank in 2019. Sidhu was named Fintech Woman of the Year in 2019. She made her case for changing the way banks do business in a book she co-authored, Why Can’t Banks Be as Easy as Uber? The book landed her among Amazon’s top 100 authors in business and money within 24 hours of its publication. Through the BankMobile Foundation, Sidhu funds budding entrepreneurs and organizations promoting financial literacy.
Where Luvleen Sidhu is taking BankMobile now that she’s in charge
Luvleen Sidhu, recently named CEO of BankMobile,
one of the country’s first digital banks, says she is expanding it from a
service for college students to a mobile bank that serves multiple
Along the way, she plans to pursue more banking-as-a-service partnerships as part of a cost-conscious growth strategy.
BankMobile, the digital-only division of Customers
Bank in Wyomissing, Pa., serves students at nearly 800 college campuses
in the United States. It offers a digital checking account as a
convenient place to store refunds of unused financial
aid and other deposits.
But other consumers are using products created by
the digital bank, founded in 2014, without even realizing it. BankMobile
is the white-label...
Luvleen Sidhu is co-founder, president and chief strategy officer for BankMobile.
Fintechs frequently join forces with financial institutions to
strategically scale products and services. These partnerships can create
innovation opportunities in traditional finance.
In a What’s Going on in Banking
study, 53% of C-level executives at midsize banks and credit unions
believed fintech partnerships would be important in 2019. Thanks to
advances in machine learning, artificial intelligence and cloud
computing, banks can get the help they need to improve their menu of
products while creating a frictionless experience for customers.
Although these partnerships often make sense, they’re not perfect.
Problems may arise from failing to properly follow financial
regulations. And rapid movements in tech have yet to be covered by
Discover How Digital Security...
In our latest podcast, Shompa Choudhury (WG ’20) is joined by Luvleen Sidhu, Co-Founder, President, and Chief Strategy Officer at BankMobile (www.bankmobile.com/index). In this extensive interview, Luvleen explains how BankMobile is leading the way in mobile-first banking by making banking more accessible and affordable. Luvleen also lays out the landscape for digital banking in the U.S. and explains how BankMobile’s B2B2C white label model allows them to create high volume customer acquisition at a low cost through partnerships with large consumer aggregators.
Established in 2015,
BankMobile is a division of Customers Bank and among the largest and
fastest-growing mobile-first banking platforms in the U.S., offering
checking and savings accounts, personal loans and credit...
BankMobile co-founder Luvleen Sidhu discusses how her firm's “Bank-as-a-Service” model enables it to acquire customers at higher volumes and lower costs than traditional banks. Click here to listen
Keynote Title: “Delivering innovative, disruptive banking that actually works for the customer”
Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer, delivered the keynote presentation at the FinovateFall conference.