BMTX

BM Technologies, Inc. (BMTX) today announced that it is a sponsor of the Concepts for Adaptive Learning (also known as TechKno) “build your own computer” program. As a program sponsor, BMTX donated 60 laptops to be used for students to build their own computers and gain new technology skills. The New Haven Free Public Library, also a sponsor, hosts the program from July 15th to July 25th.

Through its participation as a sponsor of this program, BMTX will contribute to environmental sustainability by recycling computers and support the social goal of education focused on digital literacy. The mission of Concepts for Adaptive Learning is to increase the knowledge and use of technology for youth and adults, preparing them for success in both school and career and a constantly changing digital society.

Donating Computers to Close the Digital Literacy Gap

In this program, students will learn how to rebuild donated computers and gain new technology and digital literacy skills. As part of their learning, they will gain skills in troubleshooting PCs, installing operating systems and applications, and maintaining computer systems. Students will build four computers for community service hours and a fifth one that they will keep.

Since 2001, Concepts for Adaptive Learning has provided over 5,500 refurbished computers and tablets and impacted over 12,000 people through technology training classes. Additional program sponsors for the “build your own computer” program include Comcast NBC Universal, the United Way of New Haven, and the Oechsle Family Foundation.

“Closing of the digital literacy gap resonates with BMTX’s philanthropic efforts,” said Luvleen Sidhu, Chair, CEO, and Founder of BMTX. “In our rapidly changing society, teaching digital literacy has never been more important, and we are proud to partner with Concepts for Adaptive Learning in this effort.”

“We are honored that BMTX is a sponsor of this program,” said Tesha Tramontano-Kelly, Co-Executive Director of Concepts for Adaptive Learning. “Sponsors like BMTX are critical to the success of the program, and the laptops that BMTX has donated will not only provide a much-needed resource for students in the upcoming school year but will also give them digital literacy skills that will prepare them well for the future.”

BMTX’s Continued Commitment to ESG Initiatives

Further demonstrating commitment to ESG initiatives, BMTX is choosing environmental stewardship and worker flexibility by indefinitely extending its work from home strategy for non-critical staff and closing two of its operating offices in Connecticut and Pennsylvania in 2022. BMTX is in the beginning stages of what will be broader ESG initiatives in the future.

“The world has rapidly changed following the peak of the COVID-19 pandemic, and banking remotely is widespread, so it also makes sense to work remotely,” said Luvleen Sidhu, Chair, CEO and Founder of BMTX. “We surveyed our employees last year, and 95% reported that they are more productive working from home, which reflects in our financials. We view this permanent move as a strategic advantage to continue attracting top talent from around the country.”

BMTX will still offer face-to-face connections for the team by taking advantage of geographically positioned shared workspaces and piloting ‘employee hosting’ at home for smaller collaborative and strategic meeting sessions. This move also propels BMTX forward in achieving its ESG mission of aiming to reach net-zero carbon emissions company-wide by 2030.

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.

Attachment

• Concepts for Adaptive Learning (also known as TechKno) “build your own computer” program.

Brigit Hennaman
BM Technologies
212-805-3005
bhennaman@rubensteinpr.com