Search Results for "BankMobile"
8 results for "BankMobile"
Deals 8
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.
BankMobile BaaS Platform to Go Public via SPAC Merger with Megalith
BankMobile Technologies, a subsidiary of Customers Bank, announced a business combination with Megalith Financial Acquisition Corp (MFAC) to bring its digital BaaS platform to the public market. The deal values the enterprise at $140 million. BankMobile serves over 2 million accounts across 722 college campuses and powers digital banking for partners like Google and T-Mobile.
Google Partners with BMO and BankMobile for Digital Bank Accounts via Google Pay
Google expanded its digital banking initiative by partnering with six additional U.S. banks, including BMO and BankMobile, to offer digital bank accounts managed through Google Pay. The partnerships leverage BaaS infrastructure to embed banking services within Google's ecosystem. This signals big tech's deepening engagement with bank-fintech distribution models.
BankMobile Scales White-Label Banking-as-a-Service Including T-Mobile Money
BankMobile, the digital banking division of Customers Bank, expanded its white-label BaaS partner program for fintechs and brands. The program powered T-Mobile Money (launched April 2019) and had a strong pipeline of additional white-label deals. BankMobile targeted 5 million customers over five years by enabling partners to offer branded digital banking products at lower customer acquisition costs.
BankMobile Wins LendIt Most Innovative Bank for Fintech Collaboration
BankMobile, a division of Customers Bank, won the 2019 Most Innovative Bank of the Year award at LendIt Fintech. The recognition highlighted over two years of collaboration with a major white-label fintech partner on innovative financial services for millennials. BankMobile's model of partnering with fintechs to deliver basic banking services exemplifies the embedded finance approach. The award reinforced BankMobile's strategy of leveraging fintech partnerships for consumer-facing innovation.
Upstart Launches White-Label AI Lending Platform with Multiple Bank Partners
Upstart announced "Powered by Upstart," a white-label AI lending platform enabling banks to run their own branded lending programs. Launch partners include First National Bank of Omaha, First Federal Bank of Kansas City, and Accion Chicago. The program allows banks to leverage Upstart's AI risk modeling while maintaining their own credit policies, positioning Upstart as a BaaS-style collaborator. Existing partners Customers Bank and its BankMobile division had already launched Upstart-powered credit card products.
T-Mobile Money Launches Nationwide Powered by BankMobile BaaS Platform
T-Mobile launched T-Mobile Money, a no-fee mobile checking account, powered by BankMobile's Banking-as-a-Service white-label platform from Customers Bank. The product embeds full banking services into T-Mobile's mobile ecosystem. This represents one of the earliest high-profile BaaS-enabled embedded banking programs from a major non-financial brand.
BankMobile Announces Merger with Flagship Community Bank
BankMobile, a fintech-focused digital bank, announced plans to spin off and merge with Flagship Community Bank, a community bank acting as a sponsor bank. The deal was scheduled to close in mid-2018. This merger exemplifies the sponsor bank model where fintechs partner with chartered banks to access banking licenses and deposit insurance.