BM Technologies (BMTX) is a digital, mobile-first FinTech that was born out of BankMobile and boasts ~2M accounts. BankMobile was originally founded by Luvleen Sidhu and developed at parent Customers Bank (CUBI), before ultimately separating and going public via SPAC Megalith Financial Acquisition in January 2021. BMTX recently announced a strategic merger with First Sound Bank and now has plans to become a FinTech bank.
Luvleen is part of a family of lifelong bankers. Father Jay is chairman of Customers Bancorp and brother Sam is the CEO of Customers Bank (we recently spoke to him on our podcast). Luvleen sat down with the Know Who Drives Return podcast to discuss BMTX’s future as a FinTech bank, digital banking, and rationale for acquiring a bank charter.
