Luvleen Sidhu took over as CEO of BankMobile in January after serving as president and chief strategy officer; their strategy...
Spanish bank BBVA has reported $90 million in goodwill impairment charges related to its acquisition of digital bank Simple; the acquisition has caused many analysts to question the valuation metrics for digital banks; BBVA acquired Simple in 2014 for $117 million which was $1,100 per customer; a similar digital bank sale of BankMobile is currently being priced at approximately $50 per customer; despite the impairment charges for BBVA, the bank has reported success from its acquisition with continued investment in Simple helping to increase its workforce to 350 employees. Source
T-Mobile recently announced a partnership with BankMobile to offer mobile money accounts to serve the underbanked population in the U.S.;...
Google will offer a full suite of mobile banking services through new partnerships announced today with eight US-based banks; this...
Writing a piece for Crowdfund Insider BankMobile’s Co-Founder, President and Chief Strategy Officer Luvleen Sidhu talks through the current banking makeover; new technologies like artificial intelligence and blockchain are becoming more prevalent; competition in the digital banking space is beginning to increase as banks look to close branches and move more focus online; banks are currently upgrading their cybersecurity defenses in the wake of the recent Equifax breach; these changes and more are happening now as banks better understand their customers and look to become more efficient. Source.
Morgan Creek Digital Joins $3.1 Million Round for Tokenized Real-Estate Firm Finxact Secures $30M in Equity Funding Goin Raises €2.2M...
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