From Sallie Mae's press release:
Sallie Mae banking customers can now use their mobile devices to check balances, deposit checks, pay bills, monitor spending and transfer funds.
The most noteworthy feature is the remote deposit capture:
Securely deposit personal or business checks via their iPhone or home or dorm room scanner.
For those who don't care about mobile banking or remote deposit capture, you might find this part of the press release interesting:
In addition to earning interest seven times better than the national average on the High Yield Savings Account,
I guess 7x the national average sounds better than 1.01% APY.