premium
Q+
06/09/2017 Banking Innovation

About

Established in 2015, BankMobile, a division of Customers Bank, is America’s largest mobile-first bank, offering fee-free checking and savings accounts, provides target customers – millennials, the underbanked and middle-income households with a digital, effortless, and financially empowering experience.

Innovation presentation

BankMobile is America’s first no-fee digital bank. It provides target customers – millennials, the underbanked and middle income households – a digital, effortless, and financially empowering experience.

Uniqueness of the project

Within one year, through innovative marketing campaigns and acquisitions Luvleen developed and executed with her team, BankMobile has over 100,000 customers (4x her initial target). This is exponential growth in an industry where bank branches open a net of 0.7 accounts per week. Additionally, through the strategic acquisition of Higher One which Luvleen led, the bank will be acquiring 2 million student accounts by July 1st, 2016 likely putting BankMobile in the Top 25 banks in the country in terms of total consumer checking account.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

25/09/2023 Banking Innovation

Trust Bank: Singapore’s first digitally-native bank

Singapore’s established and competitive banking industry has been undergoing transformation driven by pervasive internet access, the rise of big data,...

25/09/2023 Banking Innovation

VARS – VakifBank Risk Solution

Banks are required to calculate expected credit losses for their financial assets within the framework of specific accounting standards in...

22/09/2023 Banking Innovation

Indus Fast Remit

Indus Fast Remit (IFR) by IndusInd Bank emerged from a pressing need to modernize the remittance landscape for the evolving,...

22/09/2023 Banking Innovation

UPI Collection solution for Sporta Technologies (Dream 11)

RBL Bank stepped in by partnering an industry leading UPI tech service provider. This project is an excellent example of...

Related news & insights

Mobility
28/02/2024 News

inDrive introduces financial services for drivers

This offering provides cash loans to drivers in Mexico operating on the platform, aiming to address the financial exclusion faced...

Digital Reinvention
27/02/2024 News

BNP Paribas and Orange finalize agreement to take over Orange Bank customers

Orange and BNP Paribas have finalized agreements after exclusive negotiations initiated in June 2023. The collaboration aims to bolster services...

Digital Reinvention
27/02/2024 News

Cash on call: CaixaBank and Correos partner for convenient delivery service

Exclusively available to CaixaBank clients, this innovative offering allows individuals to request cash deliveries ranging from 60 to 500 euros...

SME Banking
26/02/2024 News

Ozan teams up with Fingate.io to offer instant shopping loans

Ozan Electronic Money Institution (EMI) has partnered with Fingate.io to introduce "Ozan Kolay Kredi" (Easy Loans), an innovative product aimed...