Luvleen Sidhu, CEO of BankMobile, Has Big Growth Plans

Luvleen Sidhu took over as CEO of BankMobile in January after serving as president and chief strategy officer; their strategy of focusing on college students has resulted in 5,000 new accounts per week at an average customer acquisition cost of $10 as colleges do most of the marketing for them; BankMobile also has a successful white label program powering the checking account for T-Mobile Money but Ms. Sidhu said she wants to dramatically expand that program, “My goal is to have at least a million accounts opened every single year through our white label strategy”; BankMobile is also looking for new opportunities to potentially spinning out from parent Customers Bank or merging with another firm. American Banker

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