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BankMobile
Description
BankMobile is a mobile application that offers a branchless banking experience without fees. BankMobile was formed to address the fact that there is a large and growing gap between low- and middle-income Americans and low-cost financial services.
Overview
| Type: | Private |
| Foundation year: | 2015 |
| Location: | Greater New York Area, East Coast, Northeastern US |
| Number of employees: | 501-1000 |
| Founders: | Jay Sidhu, Luvleen Sidhu |
| Website: | https://www.bankmobile.com/ |
Target geographic market:
North America
About Product/Service
| Products | BankMobile Vibe, BankMobile VibeUp, BankMobile Credit, BankMobile Personal Loans, BankMobile Student Refi Loans |
|---|---|
| Core product offerings for individual/retail customers | BankMobile Vibe |
| Regulators/Compliance | As a division of Customers Bank, BankMobile provides a digital bank, complete with FDIC insurance and governed by federal banking regulations. |
| The Base Currency | $ (USD) |
| Product cost | Free |
|---|---|
| ATM withdrawals | 55,000 fee-free Allpoint® ATMs |
| (a) a personal account | Yes |
Funding rounds
| Last Funding Date | N/A |
|---|---|
| Last Funding Amount | N/A |
| Last Funding Type | N/A |
| Total Funding Amount | N/A |
| Number of Funding Rounds | N/A |
Financials
| Customer/Products segments | Banking, Lending, Savings, Personal Finance, Money Management |
|---|---|
| Banking license | The BankMobile Debit Mastercard® card is issued by Customers Bank pursuant to license from Mastercard International Incorporated |
| Type of customers | Individuals |
| Number of investors | N/A |
| Number of lead investors | N/A |
| M&A | BankMobile was acquired by Flagship Community Bank for $175M on Mar 9, 2017 |
Tech stack
Competitors
| Founding Date | Type | Tags | |
x Neon (Brazil) Neon is a digital bank that offers credit cards,... | 2016 | Private | |
x MYbank MYbank, a leading online private commercial bank... | 2015 | Private | fintech, challenger banks |
x Fourthline We are a risk management and regulatory... | 2017 | Private | |
x Cashplus Cashplus is a leading digital challenger to UK... | 2005 | Private | Challenger banks, fintech |
x Air bank Air Bank is a modern and innovative 21st century... | 2019 | Challenger banks, fintech |
Reviews
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