Honored for Delivering Cutting-Edge Solutions-BankMobile Disbursements and BankMobile Vibe-That Address Key Challenges in Higher Education for Schools and Students

RADNOR, PA / ACCESSWIRE / November 6, 2024 / BM Technologies, Inc. (NYSE American:BMTX) proudly announces its Tech & Learning Award of Excellence: Back-to-School 2024 win in the higher education category for its innovative products, BankMobile Disbursements and BankMobile Vibe.

The Tech & Learning Awards celebrate products designed to address critical needs in the education sector, offering schools versatile, valuable solutions to specific challenges and significantly enhance teaching and learning outcomes.

BMTX has been providing white-labeled banking services in higher education for nearly 25 years. It offers industry-leading refund management services through BankMobile Disbursements, a technology solution that helps over 700 colleges and universities across the U.S. deliver financial aid credit balances to students securely, efficiently, and in compliance with federal regulations. One out of three students in the U.S. receive refunds through BankMobile Disbursements. The mission of BankMobile Disbursements is to help foster the success of higher education institutions and the students they serve.

BankMobile Disbursements introduces students to BMTX and offers a choice to open a competitively positioned BankMobile Vibe Checking Account. The BankMobile Vibe Checking Account is a digital-only, FDIC-insured, interest-bearing account with protection by the Department of Education. After signing up and getting a financial aid refund the same business day,[1] BankMobile Vibe customers can continue using their account for life. Vibe offers an optional savings account, cash back Offers, and the ability to get paid up to two days early.

"We are thrilled to receive the Tech & Learning Award of Excellence," said Jamie Donahue, President, and CTO of BM Technologies (BMTX). "This recognition reinforces our dedication to providing scalable, innovative solutions that meet the unique needs of colleges, universities, and students across the country."

As a leader in EdTech and a pioneer in technology for higher education, BMTX continues to set new standards in secure, efficient, and effective solutions that enhance the educational experience. The company's recognized achievements reflect continuous innovation and significant platform infrastructure transformation. This investment in technology modernization enables BMTX to roll out additional product and service enhancements, increase engagement with colleges and universities, and further advance its customer-for-life strategy.

This transformation enabled BMTX to:

• Launch cash back Offers for its BankMobile Vibe Checking Account. This innovative rewards engine aims to financially empower customers while driving loyalty among customers, giving them the opportunity to earn cash back[2] on debit card purchases. There is a merchant network spanning over 50,000 locations around the U.S., including national, local, and online brands.

• Introduce BMTX Identity Verification™ (IDV), a groundbreaking solution addressing higher education institutions' challenges in maintaining secure and efficient enrollment processes and protecting students from fraud. This innovative Software-as-a-Service (SaaS) product leverages robust AI and machine learning tools, empowering universities to maintain their risk level preferences with data-driven insights and significantly enhance their fraud detection capabilities, all while improving customer service and employee productivity.

The awards' editorial team shared, "The 2024 awards brought a huge number of high-quality entries. A varied panel of industry experts judged the winning products and solutions to be of the highest standard in supporting effective teaching and learning practices. Every winner should be immensely proud of their accomplishments-congratulations from the entire Tech & Learning Awards team."

About BM Technologies, Inc.
BM Technologies, Inc. (NYSE American:BMTX) is one of the largest digital banking platforms in the country, offering access to checking and savings accounts, with a focus on financial wellness. BMTX is committed to providing affordable, transparent, and consumer-friendly banking solutions. More information can be found at www.bmtx.com.

[1] If you open a digital BankMobile Vibe Checking Account (upon identity verification), money is deposited the same business day we receive funds from your school.

[2] Per the Cash Back Terms and Conditions.

Contact Information:

Brigit Hennaman
Rubenstein Public Relations, Inc.
bhennaman@rubensteinpr.com

SOURCE: BM Technologies