BM TECHNOLOGIES ( BMTX )
With its “ obsession ” for customer service , embedded banking pioneer BM Technologies ( BMTX ) is helping brands launch new features for their customers .
It ’ s an unseasonably warm October day when Jamie Donahue , Chief Technology Officer at BM Technologies ( BMTX ), talks to us from his office in New Jersey . Donahue has been in the role since 2020 but has a 25-year career in financial services , starting at ADP Brokerage before it spun out in 1998 to create a company called BISYS , which was ADP ’ s foray into the banking system . He has also enjoyed senior spells at Finastra as well as First Republic Bank before joining BM Technologies .
The company is not a bank itself ; instead , it is a banking enabler . It allows companies and organisations to integrate account services – like checking accounts and savings accounts – into their existing digital channels . It was founded in 2015 by Luvleen Sidhu on the principle of “ making banking easy ”, as Donahue puts it , before going public in 2021 .
“ BMTX is one of the largest digital banking platforms and banking-as-a-service ( BaaS ) providers in the country ,” Donahue says . “ We provide access to savings , checking accounts , personal loans , credit cards , and financial wellness . We are laser-focused on technology , innovation and easy-touse products . We are mission-focused to financially empower millions of Americans by providing a more affordable , transparent , and consumer-friendly banking experience .
“ We also have another side of our business , banking as a service , where we go
50 December 2022