first time, you visited a bank.............
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Technology is disrupting the banking industry in several ways. For instance, customers today interact with their banks via mobile devices more often than they visit a bank branch. Jay Sidhu, chairman and CEO of Customers Bank and BankMobile, believes that within five years mobile banking will become the norm.
It was this conviction that inspired Sidhu to set up BankMobile, a mobile-first bank, as a division of Customers Bank in January 2015. His daughter Luvleen Sidhu came on board as co-founder of BankMobile. She is now president and chief strategy officer. BankMobile currently has some 1.8 million customers. The Sidhus believe that over the next five to seven years, this number could go up to 5 million.
In a conversation with our sister publication Knowledge@Wharton, Jay and Luvleen Sidhu discuss the future of banking. Below are three realities that are changing the way we manage our money.