BankMobile Bulks Up With New Mobile Tech Division

America’s first no-fee online and mobile bank just got a little bit bigger.

BankMobile announced yesterday (Aug. 25) the launch of BankMobile Technologies — a new division that will be led by finance industry veterans Dan Armstrong as chief digital officer and Kirk Barrett as chief technology officer.

“As I said at our launch in January, banking has remained stagnant while the rest of the world is in the digital age, and we are proving that we are changing the way the industry operates,” stated Jay Sidhu, CEO of Customers Bank and BankMobile. “With the launch of our new division, we are ensuring to our customers that we are staying at the forefront of the fast-paced world of technology and will continue to provide them with a banking experience unlike any other.”

The goal of Bank Technologies is to have a division to help develop new technologies to help the company continue scaling its growth in the mobile tech banking space.

“We view ourselves as a technology company with a bank charter. Consumer needs and priorities are changing rapidly, and the role of a bank branch is continuing to decline. Opportunities to use technology to provide no-fee, effortless banking experiences are enormous,” Luvleen Sidhu, chief strategy and marketing officer at BankMobile, said in a company news release. “We intend to remain a highly regulatory compliant and technology-driven bank whose mission is to financially empower our customers.”

Armstrong brings his more than 20 years of industry experience to the role, along with his knowledge and experience working in mobile financial services. He’s had his hands in everything from mobile banking and financial startups to working with corporations. His experience also includes work in mobile banking and payments internationally, including Africa, Asia, Europe and South America.

BankMobile noted in its release that he was the “cofounder of the world’s first mobile virtual network operator for a bank in the Netherlands, where he led mobile banking innovation and carried out 16 nationwide contactless and mobile payments trials.”

Barrett brings his 25 years of financial experience to the table, which comes after working for large-scale Internet applications in both the public and private sectors. He is the cofounder of Nolinio, a tech startup that created Wingman, a mobile sales enablement tool for enterprise sales organizations. Among other major positions in the industry, Barrett was also chief digital officer of Gannett Company.

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