BM Technologies

BM Technologies, Inc. is a technology company that provides banking services through its partner banks. It offers a mobile banking platform in the U.S. that provides access to checking and savings accounts, personal loans and credit cards. The company's operating model enables partner banks to provide banking services to low and middle-income Americans who have been left behind by the fee model of traditional banks. The company was founded by Luvleen Sidhu in May 2016 and is headquartered in Wayne, PA.

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BM Technologies posts strong Q1 results, eyes Higher Education growth

BM Technologies delivered a robust performance in Q1 2024, marked by revenue growth, positive core EBITDA, and a focus on Higher Education vertical expansion.
The company's strengths lie in technological innovations, growth strategies, and a debt-free financial position, positioning it well for future growth.
While facing challenges related to market uncertainties and competitive pressures, BM Technologies has opportunities to capitalize on the Higher Education sector's potential and drive further revenue growth.

BM Technologies reports Q2 revenue growth and digital transformation success

BM Technologies exhibited solid revenue growth and digital transformation progress in Q2 2024, despite a core EBITDA loss.
The company's emphasis on technology advancements and customer engagement bodes well for future performance and revenue potential.
Navigating challenges like the BaaS partnership expiration presents opportunities for strategic growth initiatives and market expansion.

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BM Technologies, Inc. is a technology company that provides banking services through its partner banks. It offers a mobile banking platform in the U.S. that provides access to checking and savings accounts, personal loans and credit cards. The company's operating model enables partner banks to provide banking services to low and middle-income Americans who have been left behind by the fee model of traditional banks. The company was founded by Luvleen Sidhu in 2016 and is headquartered in Wayne, PA.

RADNOR, PA / ACCESSWIRE / April 10, 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 in the 2023 FinTech Breakthrough Awards in the Best Banking Infrastructure Software award category. The Fintech Breakthrough Awards is a prestigious international awards program devoted to honoring excellence in financial technologies and services companies and products, with over four thousand nominations entered worldwide.

BM Technologies (NYSE:BMTX) Wins 2023 FinTech Breakthrough Award for Best Banking Infrastructure Software

BM Technologies, Inc. (NYSE:BMTX ) Q4 2022 Earnings Conference Call March 27, 2023 5:00 PM ET Company Participants Jim Dullinger - Chief Financial Officer Luvleen Sidhu - Founder, Chairman, and Chief Executive Officer Jamie Donahue - President Conference Call Participants Mike Grondhahl - Northland Securities Brian Dobson - Chardan Capital Markets Bill Dezellem - Tieton Capital Michael Diana - Maxim Group Operator Good afternoon, everyone and welcome to the BM Technologies Fourth Quarter and Full Year 2022 Earnings Call. Please note that this event is being recorded.

BM Technologies, Inc. (BMTX) Q4 2022 Earnings Call Transcript

Raj Singh, a Veteran Financial Services Executive, Named as Co-CEO Jamie Donahue Promoted to President and Jim Dullinger Promoted to Chief Financial Officer RADNOR, PA / ACCESSWIRE / March 27, 2023 / BM Technologies, Inc. (NYSE American:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced today the appointment of Raj Singh as Co-CEO. "The Board of Directors and I are delighted to welcome Raj as my partner and Co-CEO as we position BMTX for our next phase of growth," said Luvleen Sidhu, Chair, CEO, and Founder of BMTX.

BM Technologies Strengthens Management Team to Position for the Next Phase of Growth

Two Year Extension of Existing and Largest BaaS Partnership New Bank Partnership with First Carolina Bank for Higher Education Business New Agreement with Customers Bank for Existing and Largest BaaS Partnership RADNOR, PA / ACCESSWIRE / March 22, 2023 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that the Company has executed a new Deposit Processing Services Agreement (DPSA) with First Carolina Bank for the Higher Education business and a new DPSA with Customers Bank for our existing and largest BaaS partnership deposits. Both bank partnership agreements include variable rate servicing fees which will result in superior economics for BMTX in the current interest rate environment.

BM Technologies Secures New Bank Partner and Extends Key Partnerships; New Variable Pricing Structure Benefits Revenues

RADNOR, PA / ACCESSWIRE / March 13, 2023 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced that Luvleen Sidhu, Chair, CEO, and Founder, was nominated for the Women in Payments Award in the innovation category. The Women in Payments Award for innovation is awarded to a woman who has promoted payments innovation through creativity, vision, and perseverance in her organization or the payments industry.

Luvleen Sidhu, Chair, CEO and Founder of BM Technologies (NYSE: BMTX), Nominated for The Global Association of Women in Payments Award

RADNOR, PA / ACCESSWIRE / February 23, 2023 / BM Technologies, Inc. (NYSE American:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today that it will release its financial results for the fourth quarter and fiscal year ending December 31, 2022, after the market closes on Monday, March 27, 2023. BMTX management will discuss these results and other information regarding the Company during a conference call and audio webcast on Monday, March 27, 2023 at 5:00 p.m.

BM Technologies, Inc. to Announce Fourth Quarter and Fiscal Year 2022 Earnings and Host Audio Webcast on March 27, 2023

Award Recognizes BMTX Colleges and Universities that Achieve Campus Efficiency (ACE), Security, and Student Service RADNOR, PA / ACCESSWIRE / February 13, 2023 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced 201 institutions as recipients of its sixth annual ACE Award, which is awarded to BankMobile Disbursements partner colleges and universities that Achieve Campus Efficiency (ACE). The mission of BankMobile Disbursements is to help foster the success of higher education institutions and the students they serve by disbursing essential student refunds in a secure, efficient, and cost-effective manner.

BM Technologies (BMTX) Honors 2022 ACE Award and Partnership Winners

The company announced a "profit enhancement plan" on January 30th which the market reacted to by wiping -11% off the stock price. In this article, I'll update my previous coverage on this name and reflect on whether or not that's justified.

BM Technologies: A Show Me Story

Philadelphia-area digital banking platform BM Technologies (BMTX) is set to cut 25% of its staff. The layoffs are part of what the company called a “profit enhancement plan” that will save BMTX $15 million, according to a Monday (Jan. 30) news release, happening amid a larger wave of job cuts across a number of sectors.

BM Technologies Cuts 25% of Workforce Amid ‘New Market Realities'

Launch of Targeted Plan to Improve Performance with approximately $15 Million of Expected 2023 Cost Savings Jamie Donahue Elected President and James Dullinger Elected Chief Financial Officer Investment Banking Veteran Raj Singh Joins Board of Directors RADNOR, PA / ACCESSWIRE / January 30, 2023 / BM Technologies, Inc. (NYSE American:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today a series of actions being taken to streamline its operations, strengthen its management team, position the Company for future growth, and drive long-term shareholder value. Profit Enhancement Plan In connection with its previously announced near-term strategy to focus on being an innovative, efficient, risk-oriented Fintech with a sponsor bank model, rather than becoming a bank, the Company committed to a targeted Profit Enhancement Plan (the "Plan") on January 26, 2023 that it expects to deliver approximately $18 million in annualized cost reductions with approximately $15 million of savings expected in 2023.

BM Technologies, Inc. Announces Profit Enhancement Plan and Changes to Management and Directors

First Internet Bancorp

Patriot National Bancorp

Heading into 2022, it looked like there would be several more bank-fintech mergers and acquisitions.

Bank-Fintech Deals Did Not Have a Good Year in 2022

RADNOR, PA / ACCESSWIRE / December 23, 2022 / BM Technologies, Inc. (NYSE American:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today that the Company and First Sound Bank (OTCPK: FSWA) ("FSB"), a Seattle, Washington-based community business bank, have reached a mutual decision not to move forward with the previously announced merger. The Company will focus near-term strategy on a sponsor bank model.

BM Technologies Announces Update to Partner Bank Strategy and Mutual Termination of Merger with First Sound; Board Authorizes $10 Million Repurchase Plan

RADNOR, PA / ACCESSWIRE / December 13, 2022 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that it selected University of North Carolina at Chapel Hill student, Mary Esposito as the recipient of its seventh Annual Financial Empowerment Scholarship out of over 1,000 applicants. BMTX has an Annual Financial Empowerment Scholarship provided by the BankMobile Foundation.

BM Technologies Announces University of North Carolina at Chapel Hill Student as Recipient of 2022 BMTX Annual Financial Empowerment Scholarship Provided by the BankMobile Foundation

RADNOR, PA / ACCESSWIRE / December 8, 2022 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, was selected as a finalist for the Tearsheet Challenger Awards for Best Banking Service Partner, and the Tearsheet Embedded Awards for Best Banking-as-a-Service (BaaS) Platform. The Tearsheet Embedded and Challenger Awards are the financial industry's top awards program.

BM Technologies (NYSE:BMTX) Announced as Finalist for Best Banking Service Partner and Banking-as a-Service Platform in 2022 Tearsheet Awards

BM Technologies has three major developments that are set to materialize within the next 12-18 months and the market doesn't seem to care. Despite having ample liquidity to weather a temporary compression in earnings, the market thinks the business model is dead and the company is a has-been.

BM Technologies: Major Catalysts Imminent, High Short Interest, And A Misunderstood Business

With an Obsession for Customer Service, BMTX is Helping Brands Launch New Features for Customers RADNOR, PA / ACCESSWIRE / December 6, 2022 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, is featured in the December 2022 issue of FinTech Magazine. In this exclusive interview, Jamie Donahue, Executive Vice President & Chief Technology Officer of BMTX discussed where the business has come from and how its entire approach today is motivated by that original mission statement - to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience.

How BM Technologies (BMTX) is Bringing Banking to Brands

BMTX Encourages Contributions to Digital Literacy Causes RADNOR, PA / ACCESSWIRE / December 2, 2022 / BM Technologies, Inc. (BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, is recognizing the importance of Computer Literacy Day in 2022 and advocates for donations to causes that educate underrepresented groups in tech skills, including Girls Who Code, Girls in Tech, Black Girls Code, and Blacks in Technology. BMTX contributed to these organizations in 2022.

BM Technologies (BMTX) Marks Computer Literacy Day by Supporting STEM Programs

RADNOR, PA / ACCESSWIRE / November 28, 2022 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced that Luvleen Sidhu, Chair, CEO, and Founder, was selected as a finalist in the Women in Technology category for the Fintech Futures Banking Tech Awards. Now in its 23rd year, the Banking Tech Awards are the hallmark of excellence for companies and individuals in banking and fintech.

Luvleen Sidhu, Chair, CEO, and Founder of BM Technologies (NYSE:BMTX), Named as a 'Women in Technology' Finalist in the Fintech Futures 2022 Banking Tech Awards

BMTX Marks Fraud Awareness Week with Fraud Prevention Tips for Consumers RADNOR, PA / ACCESSWIRE / November 17, 2022 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, has been recognized by DefenseStorm for "Integrated Platform Utilization" with their first annual Community of Trust Award. This award honors companies that improve effectiveness and efficiency by unifying their cyber risk, compliance, and fraud programs on a single platform.

BM Technologies (BMTX) is Recognized by DefenseStorm with a Community of Trust Award

BM Technologies, Inc. (NYSE:BMTX ) Q3 2022 Earnings Conference Call November 15, 2022 9:00 AM ET Company Participants Bob Ramsey - Chief Financial Officer Luvleen Sidhu - Founder, Chairman, and Chief Executive Officer Conference Call Participants Mike Grondhahl - Northland Securities Brian Dobson - Chardan Capital Markets Christopher Sakai - Singular Research Bill Dezellem - Tieton Capital Operator Hello and thank you for standing by. My name is Regina and I will be your conference operator today.

BM Technologies, Inc. (BMTX) Q3 2022 Earnings Call Transcript

Year-to-Date Revenue $67.9 Million; Net Income of $3.4 Million; Core EBITDA 1  of $16.4 Million RADNOR, Pa. , Nov. 15, 2022 /PRNewswire/ -- BM Technologies, Inc. (NYSE American: BMTX) ("BM Technologies," "BMTX," "we," or the "Company") one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and nine months ended September 30, 2022.

BM Technologies Reports Third Quarter & Year-to-Date 2022 Results

BankMobile Technologies if a fintech acquiring a bank charter. They also maintain a defensible moat in the US higher ed student disbursement business market.

BM Technologies: The Warrants

Q2 Hld

AUSTIN, Texas--(BUSINESS WIRE)--Helix by Q2 (NYSE:QTWO), a cloud-native platform purpose-built for embedded finance, and BM Technologies, Inc. (NYSE American:BMTX), formerly known as BankMobile, have announced they are partnering 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.

Helix and BM Technologies Collaborate to Deliver Next-Generation Embedded Finance

BM Technologies, Inc. (BMTX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

BM Technologies, Inc. (BMTX) Soars 7.4%: Is Further Upside Left in the Stock?

Timken

Vishay Intertechnology

VSH, BMTX and TKR made it to the Zacks Rank #1 (Strong Buy) value stocks list on October 6, 2022.

News for BM Technologies Stock (BMTX)