BMTX

BM Technologies, Inc. (NYSE American: BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced that Luvleen Sidhu, Chair, CEO, and Founder, has been recognized as an EY Entrepreneur Of The Year® 2022 Greater Philadelphia Award winner. Entrepreneur Of The Year® recognizes the most ambitious leaders building and sustaining successful, dynamic businesses worldwide. Winners of this award comprise a global network of like-minded visionaries, each on a transformational journey to create, innovate, grow, learn, and build a better world.

Entrepreneur Of The Year® is one of the preeminent competitive business awards for entrepreneurs and leaders of high-growth companies who think big to succeed. An independent panel of judges selected Luvleen based on her entrepreneurial spirit, purpose, growth, and impact, among other core contributions and attributes. The award is in recognition of Luvleen’s leadership, symbolizing her ambition, drive, and innovation in business and in the fintech space. This past year has been pivotal for BM Technologies as it was one of the first neo banking fintechs to go public last year, one of the first to have a profitable business model, and now among the first fintechs embracing a bank charter to create an innovative fintech bank for the future.

“I am truly honored to have been awarded the Greater Philadelphia EY Entrepreneur of the Year®,” said Luvleen. “We started BMTX with a mission to financially empower millions of Americans by providing them with a more affordable, transparent and consumer friendly banking experience. We have begun this journey and still have a long way to go. Our goal is to create even more positive, systemic change in the fintech and banking industries in the pursuit of benefiting underserved consumers.”

As a Greater Philadelphia award winner, Luvleen will now be considered by the National independent panel of judges for the Entrepreneur Of The Year® 2022 National Awards. National finalists and winners and the Entrepreneur Of The Year® National Overall Award winner will be announced in November at the annual Strategic Growth Forum®. The Entrepreneur Of The Year® National overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2023.

As a woman in a male-dominated industry, Luvleen was the youngest female to ever take a company public at the time of its listing. She focuses on actions that can help propel women in finance—promoting women in leadership roles, creating mentorship opportunities, providing equal pay, and ensuring female voices are represented at the executive leadership level. Luvleen is also the founder of the BMTX Foundation and its Annual Financial Literacy Scholarship, which offers a scholarship to one excellent undergraduate or graduate student who is blazing a trail and shaking things up in the world of financial empowerment.

Luvleen was selected by a panel of independent judges composed of a diverse group of leaders and experts in the financial services industry. The Entrepreneur Of The Year® program has honored the inspirational leadership of entrepreneurs such as Howard Schultz of Starbucks Coffee Company, Saeju Jeong of Noom, Reid Hoffman and Jeff Weiner of LinkedIn, to name a few.

The Entrepreneur Of The Year® 2022 Greater Philadelphia Award ceremony took place at the Kimmel Center for the Performing Arts on June 23, 2022, where the award was announced. 

About BM Technologies, Inc.

BM Technologies, Inc. (NYSE American: BMTX)—formerly known as BankMobile—is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts, personal loans, credit cards, and financial wellness. It is focused on technology, innovation, easy-to-use products, and education with the mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. The BM Technologies (BMTX) digital banking platform employs a multi-partner distribution model, known as "Banking-as-a-Service" (BaaS), that enables the acquisition of customers at higher volumes and substantially lower expense than traditional banks, while providing significant benefits to its customers, partners, and business. BM Technologies (BMTX) currently has approximately two million accounts and provides disbursement services at approximately 750 college and university campuses (covering one out of every three college students in the U.S.). BM Technologies, Inc. (BMTX) is a technology company and is not a bank, which means it provides banking services through its partner bank. More information can also be found at www.bmtx.com.

BMTX recently announced the signing of a definitive agreement to merge with First Sound Bank, a Seattle, Washington-based business bank. The combined company will be a fintech-based bank focused on serving customers digitally nationwide. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2022.

Contact:

Brigit HennamanBM Technologiesbhennaman@rubensteinpr.com2128053005

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35bcd002-fb59-4f5a-97a6-5e19eab1106e