FinTech Customers Bank Unveils FI Banking Group

Digital FinTech Customers Bank on Tuesday (Feb. 8) announced the launch of a financial institutions group (FIG), which will serve securities broker dealers, future commissions merchants, market makers, liquidity providers, insurance companies, trust companies and financial institutions.

Customers Bank also hired Brandon Troster as senior vice president, banking group head, to lead the Broker Dealer Banking Group within the FIG team. The Broker Dealer Banking Group will focus on clients ranging in size from $100 million to $1 billion.

“Our continued success and growth stem from leaderships’ ability to identify underserved market segments where we can differentiate the bank by developing services and building personal relationships to help clients expand their businesses,” said Sam Sidhu, president and CEO of Customers Bank, in the company announcement.

“We are pleased to welcome Brandon to our team and look forward to him expanding relationships in this market,” he said.

Troster has over 14 years of experience managing relationships and services for FIG clients of Customers Bank. Most recently, he served as vice president of the Broker Dealer Group at Texas Capital Bank. Troster has also held senior positions with Apex Clearing Corporation and Penson Financial Services.

“We plan to continue introducing financial products and services that drive value for our new and existing Financial Institutions customers,” said Lyle Cunningham, EVP, managing director at Customers Bank, in the company announcement. “We are excited to expand our team to include expertise in bringing that value to market and deepening our customer relationships.”

Recently, Customers Bank has introduced banking groups that serve the financial services sector, including the Funds Finance Group and the Technology and Venture Banking Group, as well as blockchain-based real-time payments system for cryptocurrency and digital asset institutions through branded Customers Bank Instant Tokens (CBIT), which led to $1.5 billion in deposits.

Related: Customers Bank, Tassat Debut TassatPay Instant Payments

Customers Bank and blockchain-based digital payment provider Tassat Group Inc. announced the debut of the real-time payments platform for B2B clients in October.



About: Seventy percent of BNPL users say they’d rather use installment plans offered by their banks — if only they were made available. PYMNTS’ Banking On Buy Now, Pay Later: Installment Payments And FIs’ Untapped Opportunity, surveyed more than 2,200 U.S. consumers to better understand how consumers view banks as BNPL providers in a sea of BNPL pure-plays.

Next Post

Wells Fargo outshines JPMorgan as big banks kick off the fourth-quarter earnings season

Wed Feb 9 , 2022
JPMorgan Chase & Co.’s shares wrapped up trading with their biggest one-day loss since April of 2020 in Friday’s busy day of fourth-quarter bank earnings. Wall Street investors punished shares of JPMorgan Chase JPM, +1.88% with a drop of 6.2% at the close of a bruising session. It’s the stock’s […]