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BM Technologies Inc (BMTX) delivers innovative digital banking solutions through its Banking-as-a-Service platform and strategic partnerships. This news hub provides investors and financial professionals with essential updates on the company’s technology developments, financial performance, and market strategies.
Access real-time announcements including quarterly earnings, product launches, and strategic collaborations. Our curated collection helps users track BMTX’s progress in digital transformation initiatives, higher education financial solutions, and SaaS-based banking innovations.
Discover updates on regulatory developments, leadership changes, and technology partnerships that shape BM Technologies’ position in the fintech sector. Content spans operational milestones, customer growth metrics, and service expansions while maintaining compliance with financial disclosure standards.
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BM Technologies (BMTX) reported third quarter and year-to-date results, showing revenue of $67.9 million and net income of $3.4 million for the nine months ended September 30, 2022. Core EBITDA was $16.4 million, with Q3 net loss at $(4.9) million.
The company has partnered with Helix for enhanced Banking-as-a-Service, and is negotiating with a new sponsor bank for improved terms. New checking account sign-ups rose by 11%, demonstrating growth despite challenges like inflation and rising interest rates.
BM Technologies, Inc. (NYSE American: BMTX) announces a live webcast for its Q3 2022 earnings on November 15, 2022, at 9:00 AM ET. As one of the largest providers of Banking-as-a-Service (BaaS) in the country, BM Technologies aims to empower millions of Americans with innovative banking solutions. The company has signed a definitive agreement to merge with First Sound Bank, enhancing its digital banking capabilities. The merger is contingent upon regulatory approvals.
Helix by Q2 (QTWO) and BM Technologies (BMTX) have forged a partnership to deliver embedded banking solutions, combining Helix's finance platform with BM Technologies' app development services. This collaboration allows consumer brands to provide personalized banking experiences without extensive management. Helix serves over 13 million users and processes more than $40 billion in transactions annually. The integrated solution addresses market demands for flexibility and speed, offering brands a comprehensive banking-as-a-service platform.
BM Technologies, Inc. (NYSE American: BMTX) announced that over 97% of its college and university partners value the BankMobile Vibe Checking Account for students. This account is recognized for its low fees and beneficial features, including financial literacy programs. BMTX operates on about 750 campuses, serving one in three college-bound students. The company disbursed $13.8 billion in the last year, with $1.7 billion going into Vibe Accounts. A merger with First Sound Bank is also underway, pending regulatory approval.
BM Technologies reported strong financial results for 1H 2022, with a net income of $8.4 million and record Core EBITDA of $15.1 million, reflecting an 8% increase despite macroeconomic challenges. Q2 2022 revenues rose 3% year-over-year to $23 million, while average serviced deposits surged 29% to $2 billion. The company signed contracts with new partners and continues to prepare for a merger with First Sound Bank by year-end. BMTX's cash balance stood at $32.5 million as of June 30, 2022.
BM Technologies, Inc. (BMTX) has expanded its senior leadership team by appointing Jason Swartley as General Counsel, Amanda Meyer as SVP of People, and Steve Lenderman as SVP of Global Loss Prevention & Fraud Management. Swartley brings extensive legal expertise, while Meyer has a strong background in human resources and organizational transformation. Lenderman leads fraud prevention efforts with over 25 years of experience. These strategic hires aim to facilitate BMTX's growth and strengthen its digital banking platform, which serves around two million accounts.
