“Banks are addicted to fees.” That’s what our CEO, Jay Sidhu told Bloomberg Business Radio in a recent interview. Learn how BankMobile makes money, without profiting from fee income, and why we have a soft spot for Millennials and the middle class.
Listen in to the full interview on Soundcloud
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Jay Sidhu, CEO, BankMobile
Jay Sidhu serves as the Chairman and CEO for BankMobile and Customers Bank, a $6.5 billion asset bank with headquarters in Wyomissing, Pennsylvania. He has an extensive and recognized background in banking. Prior to joining Customers Bank, he served as the Founder, Chairman and Chief Executive Officer of Sovereign Bancorp Inc. There, he grew the organization from an Initial Public Offering of $12 million to a market cap approaching $12 billion, crediting it as the 17th largest banking institution in the country.
Sidhu has received various recognitions in the industry, including Financial World’s CEO of the Year, Turnaround Entrepreneur of the Year, and was named the Large Business Leader of the Year by the Chamber of Commerce.
Sidhu earned a Master of Business Administration from Wilkes University and graduated from the Harvard Business School’s Leadership Course.
Luvleen Sidhu, Chief Strategy & Marketing Officer, BankMobile
Luvleen Sidhu is the Chief Strategy and Marketing Officer at BankMobile. Prior to her current role, she was a management consultant at Booz & Co. in their financial services practice. Before attending business school at Wharton, she worked as the director of corporate development at Customers Bank. While at the company, Sidhu introduced several growth projects, including partnering with a New York City-based start-up to improve the banking experience through innovative technology.
Prior to that role, she was an investment analyst at Neuberger Berman in their hedge fund of funds group. Sidhu holds a Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Arts Degree in Government from Harvard College.
Personally, Sidhu is involved with several social impact projects that include establishing computer centers in India to educate rural women, and organizing and sponsoring medical camps in underprivileged areas in Punjab.
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