BM Technologies, Inc. Provides Earnings Guidance for the Year 2024
April 04, 2024 at 01:45 am IST
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BM Technologies, Inc. provided earnings guidance for the year 2024. The company anticipates revenue growth in 2024 driven by investments in the Higher Education vertical and the full-year effect of Durbin-exempt interchange rates on the majority of serviced deposit account holders' debit card spend. The company also expects a return to positive Core EBITDA in 2024 based on these higher revenues and stricter cost controls implemented as part of the Company's PEP.
BM Technologies, Inc. is a financial technology company. The Company facilitates deposits and banking services between a customer and its partner bank, Customers Bank and First Carolina Bank, (the Partner Banks), which are related parties. The Company provides high-tech digital banking and disbursement services to consumers and students nationwide through a full service fintech banking platform, accessible to customers anywhere and anytime through digital channels. Its banking platform provides access to checking and savings accounts, personal loans, and financial wellness. Its fintech business model leverages Banking-as-a-Service (BaaS) partnersâ and University partnersâ existing customer bases to achieve high volume, low-cost customer acquisition in its Higher Education Disbursement and BaaS businesses.
BM TECHNOLOGIES, INC. 
