BM Technologies (NYSE:BMTX) Wins Tearsheet’s Big Bank Theory Award for Best Banking-as-a-Service Platform and FinTech Futures Banking Tech Awards USA for Excellence in Tech for Best Embedded Finance System—as-a-Service
Luvleen Sidhu, Chair CEO, and Founder of BM Technologies (BMTX), Also Highly Commended for Fintech Futures Women in Technology Software & Services Provider Leadership Award
RADNOR, PA / ACCESSWIRE / June 8, 2023 / BM Technologies, Inc.(NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, was selected as a winner of Tearsheet's 2023 Big Bank Theory Award for Best Banking-as-a-Service Platform. BMTX was also named a winner in the FinTech Futures Banking Tech Awards USA for Excellence in Tech, Best Embedded Finance System-as-a-Service. Additionally, Luvleen Sidhu, Chair, CEO, and Founder of BM Technologies (BMTX) was highly commended for the Fintech Futures Women in Technology Software & Services Provider Leadership Award.
The Big Bank Theory Awards by Tearsheet is a premier awards program recognizing and celebrating innovation in finance and banking. With this awards program, Tearsheet brings together industry leaders, innovative startups, and vital incumbent players to acknowledge the companies shaping the future of banking and embedded finance.
The Tearsheet awards criteria demonstrate success over the past 12 months, evidenced by creativity, innovative thinking, consumer value, and KPIs. BMTX's unique BaaS platform can deliver white label, hybrid, embedded, or API enablement and goes beyond just tech to offer full support in the form of Business Process Operations (BPO) functions like bank operations, customer service, compliance, and anti-fraud capabilities.
The Fintech Futures Banking Tech Awards USA recognizes outstanding achievements and success in the banking and fintech industry across the United States. Distinguished judges comprise executives from companies such as IBM, Novo Banco S.A., Green Dot, Franklin Templeton Investments, and Locality. Other finalists in the category of Best Embedded Finance System---as-a-Service included NovoPayment and U.S. Bank.
"It is an honor to be named a winner for these awards among so many distinguished finalists," said Luvleen Sidhu, Chair, CEO, and Founder of BMTX. "BMTX's BaaS embedded technology helps improve people's lives by empowering them with a banking platform with no or low fees, and solutions for the evolving banking landscape. As a leader in the FinTech space, we are proud to partner with brands and FinTechs to deliver embedded banking experiences."
BMTX's proprietary BaaS platform and interface help FinTechs, and brands launch fully branded financial services products easily and at scale, at a fraction of the cost. This leads to attracting new customers, adding new revenue streams, and providing a more personalized experience for customers.
"BMTX's entire ecosystem is built around its ability to present and consume APIs," said Jamie Donahue, President of BMTX. "Success in the new digital age in financial services will depend highly on the capability to integrate and embed functionality into other ecosystems. BMTX's platform can seamlessly integrate with partners to bring a wide breadth of services to our clients. We are in the market with an industry-leading platform that can be a standalone app but can also present an Application Programming Interface (API) or, if needed, ingest API traffic from clients and partners. We believe this powerful flexibility in our platform and years of running our BaaS business distinguishes BMTX in a highly competitive industry."
In October, BMTX announced it is partnering with Helix to provide comprehensive embedded banking solutions for consumer brands, combining Helix's embedded finance platform and bank partnerships with BM Technologies' award-winning app development services and program management. The combined solution enables consumer brands to offer differentiated banking solutions that enhance their brand experience without building and managing it themselves.
Launched in 2015, BMTX is one of America's largest digital financial services platforms and a pioneer in the BaaS sector, powering FinTechs and brands to expand access to digital banking products through its award-winning technology.
About BM Technologies, Inc.
BM Technologies, Inc. (NYSE American:BMTX) - formerly known as BankMobile - is among the largest Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts, personal loans, and financial wellness. It is focused on technology, innovation, easy-to-use products, and education with the mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. BM Technologies, Inc. (BMTX) is a technology company and is not a bank, which means it provides banking services through its partner bank. More information can be found at www.bmtx.com.
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SOURCE: BM Technologies
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