Search Results for "BM Technologies"
3 results for "BM Technologies"
Deals 3
BM Technologies and First Sound Bank Terminate $23M Merger Deal
BM Technologies (BMTX) and First Sound Bank mutually terminated their $23M acquisition deal after regulatory delays pushed the expected closing timeline well beyond the original H2 2022 target. BMTX had sought the deal to acquire a bank charter and create BMTX Bank with over $2B in assets. The fintech pivoted to a new sponsor bank agreement with improved economics instead.
BM Technologies Announces $23M Strategic Merger with First Sound Bank
BM Technologies (BMTX), a digital banking platform, announced a $23 million strategic merger with First Sound Bank, a Seattle-based community bank. The combined entity will operate as BMTX Bank, a fintech-based digital bank. This deal gives BMTX a bank charter while maintaining First Sound's community banking presence in Seattle.
BM Technologies Expands BaaS Offerings to Banks and Credit Unions
BM Technologies (formerly BankMobile) announced an expansion of its banking-as-a-service offerings to serve banks and credit unions directly. The company was building a pipeline of prospective white label customers including retailers, grocers, fintechs, and banks. This represented a strategic pivot to become a BaaS provider for financial institutions themselves.