AMA 116 - Mobile and Digital Banking in the United States with Jay Sidhu

Jay Sidhu is the CEO of Customers Bank and his bank has just come out with a new digital banking service called Mobile Bank that can be done right from your smartphone. Jason Hartman is interested in learning more about Mobile Bank and talks to Jay about how America's banking system is riddled with inefficiencies, Bitcoin, and more on today's show. 

 

Key Takeaways:

1:40 – Customers Bank is a business bank and Bank Mobile is a consumer bank. 

5:20 – What's the difference between Bank Mobile and Allied Bank? Jay explains. 

8:45 – Jay shares his thoughts on Bitcoin. 

15:40 – Jay believes the FDIC definitely has the money to pay in case a crisis happens. 

22:10 – Uber is great because there's finally some competition in the taxi monopoly and the same thing needs to happen in banking. 

24:00 – How does Mobile Bank make money if they have no fees? Jay explains. 

 

Mentioned In This Episode: 

BankMobile.com