BankMobile, America’s first absolutely no-fee digital bank, announced that Jay Sidhu, Chairman and CEO, has beeen awarded an honorary degree from Albright College during its 157th Commencement on May 22, 2016. Sidhu is also Chairman and CEO of BankMobile Technologies and Customers Bancorp Inc., an approximately $9 billion asset bank with headquarters in Wyomissing, PA.
“It is a true privilege to be awarded this degree from Albright College, a prestigious school with which we share a community,” stated Sidhu.
Sidhu’s contributions in the fields of business, finance, and marketing were recognised and his service to the community lauded. The award also reaffirms his dedicated efforts and the impact he’s made on the Greater Reading area and vicinity.
Established by Jay and his daughter Luvleen Sidhu in January 2015, BankMobile’s ambition is to financially empower millennials and the underbanked. They are on track to have two million students banking with them by June 30, 2016, all because of their extensive business strategies such as a personal banker, financial coach and a newly launched podcast with Ash Cash.
Sidhu has an extensive and established background in banking. Prior to joining Customers Bank, he served as the Founder, Chairman and Chief Executive Officer of Sovereign Bancorp Inc. There, he took the organization from an Initial Public Offering of $12 million to a staggering market cap approaching $12 billion, making it the 17th largest banking institution in the country.
This honour is not the first for Sidhu who has earned himself several laurels over the years such as – Financial World’s CEO of the Year, Turnaround Entrepreneur of the Year, and he was also named the Large Business Leader of the Year by the Chamber of Commerce.
Sidhu backs his skills with strong academic history; Master of Business Administration from Wilkes University and graduation from the Harvard Business School’s Leadership Course.
Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company in Wyomissing, Pennsylvania and has an illustrious board of directors that includes the founder of London-based C&C Alpha Group, Bhanu Choudhrie.