Welcome to our dedicated page for Bm Technologies news (Ticker: BMTX), a resource for investors and traders seeking the latest updates and insights on Bm Technologies stock.
BM Technologies Inc (BMTX) news coverage ended following the company's acquisition by First Carolina Bank in early 2025. The stock was delisted from NYSE American on February 3, 2025, after shareholders received $5.00 per share in cash upon completion of the merger on January 31, 2025.
Prior to the acquisition, BM Technologies operated as one of the largest digital banking platforms and Banking-as-a-Service providers in the United States. News coverage of the company typically focused on partnerships with colleges and universities for financial aid disbursement services, Banking-as-a-Service client announcements, financial results, and developments in the digital banking and fintech sectors.
The company served over 725 college and university campuses and more than two million account holders through its dual business model of higher education disbursements and white label banking solutions. Major news events included contract wins with educational institutions, technology platform updates, regulatory compliance matters, and quarterly earnings reports showing revenue from interchange fees and service charges.
BM Technologies, formerly known as BankMobile, was founded in 2015 and rebranded in 2021. As a technology company rather than a bank, it partnered with FDIC-insured institutions including First Carolina Bank and Customers Bank to provide banking services. The company competed in the evolving Banking-as-a-Service landscape alongside other fintech platforms and digital banking providers.
Following the acquisition announcement in October 2024, news coverage centered on the transaction details, shareholder approval process, regulatory approvals, and the transition of operations to First Carolina Bank ownership. The company now operates as a wholly owned subsidiary of First Carolina Bank while maintaining its brand and continuing to serve existing institutional and consumer customers.
BM Technologies (NYSE American: BMTX) has been recognized as a finalist for Finovate’s Best Fintech Partnership, highlighting its innovative contributions to digital banking. CEO Luvleen Sidhu is also a finalist for the Fintech Woman of the Year award, celebrating her work in empowering women in financial services. BMTX, with approximately two million accounts and a strong Banking-as-a-Service (BaaS) model, continues to disrupt the market. Winners will be announced on September 14, 2021.
BM Technologies (NYSE American: BMTX) is expanding its Banking-as-a-Service (BaaS) platform to credit unions and community banks, enhancing their digital capabilities. This move is aimed at improving access to financial services for underserved communities, with features like optional savings accounts and robust mobile apps. The company, which serves approximately 735 colleges, reports being EBITDA-positive with about two million accounts. BMTX's BaaS model offers cost-effective solutions while helping financial institutions remain competitive in the evolving digital landscape.
BM Technologies, Inc. (NYSE American: BMTX), a leading digital banking platform in the U.S., will announce its Q2 2021 earnings on August 11, 2021, after the market closes. A live webcast to discuss these earnings is scheduled for August 12, 2021, at 9am EDT. The company, formerly known as BankMobile, operates approximately two million accounts and services 735 college campuses, focusing on technology-driven financial solutions.
BM Technologies, Inc. (BMTX) has partnered with Array to integrate consumer credit monitoring and identity protection into its Banking-as-a-Service platform. This collaboration will enhance BMTX's product offerings by providing credit scores, detailed reports, and user alerts for credit profile changes. The aim is to improve customer engagement and retention. With approximately two million accounts and an EBITDA-positive model, BMTX distinguishes itself within the digital banking space.
BM Technologies (BMTX), a leading digital banking platform, has announced partnerships with eight colleges and universities, expanding access to BankMobile Disbursements and the BankMobile Vibe Checking Account for over 47,000 new students. The platform, which serves around 725 educational institutions, processes financial aid disbursements with a high electronic rate of 89%. With approximately 2 million accounts, the company is EBITDA-positive and offers features like access to 55,000+ fee-free ATMs and student engagement programs.
BM Technologies, Inc. (BMTX) announced that Luvleen Sidhu, CEO and Founder, will speak at the CogX Festival 2021. Scheduled for June 14 at 4 PM BST, the session titled “When the challenged become the challengers” will explore fintech's role in disrupting traditional banking. Sidhu will share insights on financial empowerment and inclusivity, joining other notable speakers like Robert Downey Jr. and Matthew McConaughey. BM Technologies serves around two million accounts and focuses on a Banking-as-a-Service (BaaS) model, positioning itself as a leader in digital banking.
BM Technologies (NYSE: BMTX, BMTX.W) announced that CEO Luvleen Sidhu was honored as one of PaymentsSource’s Most Influential Women in Payments. The virtual award ceremony took place on May 19, 2021, recognizing women under 40 who excelled in leadership during the pandemic. Sidhu's leadership has positioned BMTX as a key player in digital banking, with approximately two million accounts and a presence on 725 college campuses in the U.S. The company went public through a SPAC merger in January 2021, highlighting its innovative Banking-as-a-Service model.
BM Technologies reported record first quarter results for 2021, with GAAP revenues of $24.4 million, a 55% increase year-over-year. The company achieved a net income of $18.9 million, up from a $4.5 million loss in Q1 2020, aided by a $15 million gain on private warrant liability. Serviced deposits rose 112% year-over-year, totaling $1.32 billion. EBITDA reached $8.7 million, with a margin of 36%. The company remains optimistic about its strategic outlook and targets an EBITDA of $20-22 million for 2021.
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