Indian-origin duo's app to revolutionise banking industry

A mobile app launched by Indian-American banker Jay Sidhu and his daughter Luvleen can revolutionise the global banking industry, a media report said.

Sidhu, who is the chairman and CEO of US-based Customers Bank, and his daughter, presented details of their app called BankMobile at an event of Greater Reading Chamber of Commerce and Industry in downtown Reading this week, wfmz.com reported.

According to the duo, their app puts everything customers need from a bank at their fingertips.

Tapping into the technologies that enable experience like shopping online or using transportation apps like Uber, the app promises that users can open a free account, deposit checks, pay bills, send money to friends and receive financial advice in minutes.

Sidhu, who holds bachelor's in management degree from Banaras Hindu University and an MBA from Wilkes University, is credited with turning Boston-based Sovereign Bank into a multi-billion dollar company.

He teamed up with her Harvard-educated daughter to come up with the app.