BankMobile is in the process of developing its own mobile app, which will include features for its upcoming auto finance product, said Luvleen Sidhu, chief strategy and marketing officer at the branchless bank startup. The bank’s current app is outsourced to a third-party vendor, Sidhu said.
“We are working on rolling out the ‘wow’ experience,” she said. “Our priority is for our customers to make better decisions on an everyday basis, and that’s what the new app will allow them to do.” Building in-house tech is timely, but it pays off at the end, she added.
The new app, scheduled to launch in May or June, will allow customers to set up reminder alerts, in addition to tracking payments, which should help consumers better budget their funds. BankMobile previously announced its intent to roll out an auto finance product.
“We are planning to launch that at some point this year,” she said. “It’s on our roadmap, and will follow the launch of our app.” BankMobile has more than 100,000 users.
