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Bm Technologies Inc's Business Segments
Bm Technologies Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
14
Largest Segment
Revenue recognized at a point in time
Total Revenue
$ 14
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Revenue recognized at a point in time89.8%
- Servicing fees53.5%
- Revenue recognized at a point in time Servicing fees53.5%
- Interchange and card revenue21.2%
- Revenue recognized at a point in time Interchange and card revenue21.2%
- University fees12.1%
- Account fees11.9%
- Revenue recognized at a point in time Account fees11.9%
- Revenue recognized over time9.8%
- Revenue recognized over time University fees9.1%
- Revenue recognized at a point in time University fees3.1%
- Other revenue1%
- Revenue recognized over time Other revenue0.7%
- Revenue recognized at a point in time Other revenue0.3%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Revenue recognized at a point in time | $ 13 | 89.8% |
| Servicing fees | $ 8 | 53.5% |
| Revenue recognized at a point in time Servicing fees | $ 8 | 53.5% |
11 more segments available
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Annual Results
Revenue Share by Reportable Segment - FY
- Revenue recognized at a point in time89.8%
- Servicing fees53.5%
- Revenue recognized at a point in time Servicing fees53.5%
- Interchange and card revenue21.2%
- Revenue recognized at a point in time Interchange and card revenue21.2%
- University fees12.1%
- Account fees11.9%
- Revenue recognized at a point in time Account fees11.9%
- Revenue recognized over time9.8%
- Revenue recognized over time University fees9.1%
- Revenue recognized at a point in time University fees3.1%
- Other revenue1%
- Revenue recognized over time Other revenue0.7%
- Revenue recognized at a point in time Other revenue0.3%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Revenue recognized at a point in time | $ 13 | 89.8% |
| Servicing fees | $ 8 | 53.5% |
| Revenue recognized at a point in time Servicing fees | $ 8 | 53.5% |
11 more segments available
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Description of Bm Technologies Inc
BM Technologies Inc (BMTX) is a financial technology company that aims to provide innovative and flexible banking solutions to its customers. The company offers various digital banking services and products, including online checking and savings accounts, personal loans, and credit cards, to a diverse customer base.
The company was founded in 2014 and is headquartered in New York City. BMTX operates as a subsidiary of Customers Bank, which provides it access to established banking infrastructure and services.
BMTX offers a range of innovative digital banking products, including Bask Bank, MoveMoney and Lendvious. Bask Bank provides an online high-yield savings account, designed for customers who want to grow their money at a higher interest rates than traditional banks offer. MoveMoney is a comprehensive financial solution that offers customers the ability to control their finances with ease, including online bill payment, peer-to-peer payment, and access to a wide range of financial products.
Lendvious offers a unique online platform to help customers obtain personal loans easily and quickly, while bypassing traditional banking red tape. This platform connects customers with a network of lending partners to find the best possible loan product to suit their individual needs.
BMTX has received numerous awards and accolades for its innovative approach to digital banking. In 2021, it was named the Best Digital Bank at the 10th annual World Retail Banking Report Awards. It was also recognized as Best Consumer Lending Platform at the LendingTree Innovation Challenge, and received the Best Checking Account Award from MagnifyMoney.
BMTX prides itself on offering superior customer service, with a dedicated customer support team available 24/ The company has a high level of security in place to protect the accounts and financial information of its customers.
In conclusion, BMTX is a leading financial technology company that offers innovative, customer-focused digital banking solutions designed to simplify banking for customers. They are widely recognized for the outstanding quality of their banking services and products, as well as for their excellent customer support.
The company was founded in 2014 and is headquartered in New York City. BMTX operates as a subsidiary of Customers Bank, which provides it access to established banking infrastructure and services.
BMTX offers a range of innovative digital banking products, including Bask Bank, MoveMoney and Lendvious. Bask Bank provides an online high-yield savings account, designed for customers who want to grow their money at a higher interest rates than traditional banks offer. MoveMoney is a comprehensive financial solution that offers customers the ability to control their finances with ease, including online bill payment, peer-to-peer payment, and access to a wide range of financial products.
Lendvious offers a unique online platform to help customers obtain personal loans easily and quickly, while bypassing traditional banking red tape. This platform connects customers with a network of lending partners to find the best possible loan product to suit their individual needs.
BMTX has received numerous awards and accolades for its innovative approach to digital banking. In 2021, it was named the Best Digital Bank at the 10th annual World Retail Banking Report Awards. It was also recognized as Best Consumer Lending Platform at the LendingTree Innovation Challenge, and received the Best Checking Account Award from MagnifyMoney.
BMTX prides itself on offering superior customer service, with a dedicated customer support team available 24/ The company has a high level of security in place to protect the accounts and financial information of its customers.
In conclusion, BMTX is a leading financial technology company that offers innovative, customer-focused digital banking solutions designed to simplify banking for customers. They are widely recognized for the outstanding quality of their banking services and products, as well as for their excellent customer support.
BM Technologies Inc, also known simply as BM, has emerged as a prominent player in the digital banking sector, leveraging technology to offer a comprehensive suite of financial products and services tailored to diverse customer segments. Below, an extensive overview of the various segments, products, and services provided by BM Technologies Inc is presented:
Segments
1. Individual Consumers:
- BM provides a range of banking services tailored to the needs of individual consumers, focusing on personal finance management and accessibility.
2. Small and Medium-Sized Businesses (SMBs):
- Recognizing the unique challenges faced by SMBs, BM offers specialized banking solutions that help streamline financial processes and enhance efficiency.
3. Students:
- BM has crafted dedicated products and services that cater specifically to the student demographic, aimed at financial literacy and responsible money management during their academic journey.
Products and Services
1. Personal Banking:
- Checking Accounts: BM offers a variety of checking accounts with features such as no minimum balance requirements, low fees, and easy online management.
- Savings Accounts: Customers can choose from different savings account options to help them save money while earning interest, complete with easy access to their funds.
- Debit Cards: BM provides debit cards linked to checking accounts, featuring security options and ease of use for everyday transactions.
- Loans: A range of personal loans is available, including unsecured loans, home equity loans, and personal lines of credit, enabling customers to meet their financial needs.
2. Business Banking:
- Business Checking Accounts: Various checking account options designed for business needs, offering features such as expense tracking and management tools.
- Business Savings Accounts: High-yield business savings accounts that help businesses grow their savings while maintaining liquidity.
- Merchant Services: Integrated payment solutions that allow businesses to accept various payment types, including credit and debit cards, with seamless transaction processing.
- Business Loans: BM provides loan options for SMBs, including working capital loans, commercial real estate financing, and equipment financing.
3. Student Banking:
- Student Checking and Savings Accounts: Designed specifically for students, these accounts often come with no monthly fees and perks that cater to young consumers.
- Student Loans: BM offers competitive student loans with flexible repayment options to assist in financing education.
- Financial Education Resources: BM provides access to resources and tools to help students understand budgeting, saving, and managing credit.
4. Mobile Banking App:
- Account Access: The BM mobile app allows customers to access their banking information anytime, from anywhere, with robust security features.
- Fund Transfers: Users can easily transfer money between their accounts or send money to friends and family.
- Bill Payment: The app simplifies bill payments, allowing users to schedule payments directly from their accounts.
- Deposit Checks: Customers can deposit checks using their mobile device’s camera, avoiding trips to a physical bank.
5. BM Rewards:
- Loyalty Program: Customers earn points through various activities, such as signing up for new accounts, making purchases, or utilizing specific services.
- Redemption Options: Points can be redeemed for rewards that may include gift cards, travel discounts, and other benefits, incentivizing customer engagement with BMs products.
Conclusion
BM Technologies Inc stands out by offering a robust array of financial products and services that cater to various customer segments, including individual consumers, small and medium-sized businesses, and students. With an emphasis on innovative technology, BM simplifies banking processes and enhances customer experiences through features such as a user-friendly mobile app and a rewarding loyalty program. As a result, customers benefit from accessible, convenient, and tailored banking solutions that meet their financial needs.
Segments
1. Individual Consumers:
- BM provides a range of banking services tailored to the needs of individual consumers, focusing on personal finance management and accessibility.
2. Small and Medium-Sized Businesses (SMBs):
- Recognizing the unique challenges faced by SMBs, BM offers specialized banking solutions that help streamline financial processes and enhance efficiency.
3. Students:
- BM has crafted dedicated products and services that cater specifically to the student demographic, aimed at financial literacy and responsible money management during their academic journey.
Products and Services
1. Personal Banking:
- Checking Accounts: BM offers a variety of checking accounts with features such as no minimum balance requirements, low fees, and easy online management.
- Savings Accounts: Customers can choose from different savings account options to help them save money while earning interest, complete with easy access to their funds.
- Debit Cards: BM provides debit cards linked to checking accounts, featuring security options and ease of use for everyday transactions.
- Loans: A range of personal loans is available, including unsecured loans, home equity loans, and personal lines of credit, enabling customers to meet their financial needs.
2. Business Banking:
- Business Checking Accounts: Various checking account options designed for business needs, offering features such as expense tracking and management tools.
- Business Savings Accounts: High-yield business savings accounts that help businesses grow their savings while maintaining liquidity.
- Merchant Services: Integrated payment solutions that allow businesses to accept various payment types, including credit and debit cards, with seamless transaction processing.
- Business Loans: BM provides loan options for SMBs, including working capital loans, commercial real estate financing, and equipment financing.
3. Student Banking:
- Student Checking and Savings Accounts: Designed specifically for students, these accounts often come with no monthly fees and perks that cater to young consumers.
- Student Loans: BM offers competitive student loans with flexible repayment options to assist in financing education.
- Financial Education Resources: BM provides access to resources and tools to help students understand budgeting, saving, and managing credit.
4. Mobile Banking App:
- Account Access: The BM mobile app allows customers to access their banking information anytime, from anywhere, with robust security features.
- Fund Transfers: Users can easily transfer money between their accounts or send money to friends and family.
- Bill Payment: The app simplifies bill payments, allowing users to schedule payments directly from their accounts.
- Deposit Checks: Customers can deposit checks using their mobile device’s camera, avoiding trips to a physical bank.
5. BM Rewards:
- Loyalty Program: Customers earn points through various activities, such as signing up for new accounts, making purchases, or utilizing specific services.
- Redemption Options: Points can be redeemed for rewards that may include gift cards, travel discounts, and other benefits, incentivizing customer engagement with BMs products.
Conclusion
BM Technologies Inc stands out by offering a robust array of financial products and services that cater to various customer segments, including individual consumers, small and medium-sized businesses, and students. With an emphasis on innovative technology, BM simplifies banking processes and enhances customer experiences through features such as a user-friendly mobile app and a rewarding loyalty program. As a result, customers benefit from accessible, convenient, and tailored banking solutions that meet their financial needs.