BM Technologies Inc. (BMTX) reported strong growth in its 2020 results, with serviced deposits increasing by 139% to $960 million and new business serviced deposits up 579% year-over-year. The company recorded GAAP revenues of $66.9 million, an 8% decrease from 2019, while pro forma core revenues rose by 9%. EBITDA turned positive at $3.5 million. The firm added nearly 450,000 accounts in 2020, with debit card spending increasing by 18% to $2.8 billion. Looking forward, BMTX anticipates accelerating growth in 2021, bolstered by strategic partnerships and product expansions.
BM Technologies, Inc. (NYSE American: BMTX, BMTX-WT) will announce its fourth quarter and full year 2020 results on March 16, 2021, after market close. This announcement will be available on the company's investor relations website. BM Technologies is a major digital banking platform in the U.S., facilitating checking and savings accounts, personal loans, and credit cards. The company operates under a Banking-as-a-Service (BaaS) model, serving over two million customers and providing services at around 725 educational institutions nationwide.
BM Technologies, Inc. (NYSE American: BMTX, BMTX.W) is participating in the 2021 Virtual KBW Fintech Payments Conference on February 24, 2021. The company aims to showcase its disruptive Banking-as-a-Service (BaaS) platform, which serves approximately one in three college students in the U.S. Launched in 2015, BM Technologies focuses on providing a digital-first banking experience through partnerships, facilitating low-cost banking services. The conference features industry leaders discussing fintech trends and opportunities.