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Stock impact report

Luvleen Sidhu reflects on BM Tech journey after sale to bank [Yahoo! Finance]

Customers Bancorp, Inc (CUBI) 
Last customers bancorp, inc earnings: 1/22 04:54 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Technologies (BMTX), a digital banking fintech founded by Luvleen Sidhu. The bank purchased BMTX for $66 million , and BM Technologies is now a subsidiary of First Carolina Bank while keeping its name. The two companies initially formed a partnership in late 2023 , in which First Carolina Bank became the bank sponsor for the fintech's product focused on university students called BankMobile Vibe. Luvleen Sidhu, outgoing CEO of BM Technologies Credit: Sona Photography "We've been partners for almost two years now," BM Technologies's outgoing CEO Luvleen Sidhu told American Banker. "We've always worked in a bank partnership model, and First Carolina Bank was a unique bank that came onto our radar when we were looking for a bank partnership." "By integrating BMTX's digital banking platform with our robust regional banking infrastructure, we're not just acquiring a company—we're accelerating our digital banking growth strategy and establishing a differentiated market position in h Show less Read more
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