• T-Mobile US partner Customers Bancorp provided further signals of a coming sale of its BankMobile digital division, which underpins the T‑MobileMONEY digital banking service launched by the NatCo in mid‑2019.

Customers Bancorp may pull rug from under T-Mobile MONEY

Customers Bancorp may pull rug from under T-Mobile MONEY

Source: T-Mobile MONEY

T‑Mobile US (TMUS) partner Customers Bancorp provided further signals of a coming sale of its BankMobile digital division, which underpins the T‑MobileMONEY digital banking service launched by the NatCo in mid‑2019 (Deutsche Telekomwatch, #78, #83, and #90). During the presentation of the banking group’s latest results, Jay Sidhu, its Chief Executive, hinted that the division could be divested in 2020. “We found ourselves looking at… a clearer path forward for BankMobile as a separate company… We are exploring every strategic option for BankMobile at this time. And you should look out for information from us over the next few quarters”, he said. The group had previously said it expected to retain BankMobile for two‑to‑three years, having suspended plans to spin off the division in October 2018.