Payments News

Tech

BankMobile Technologies, a Subsidiary of Customers Bank, and Megalith Financial Acquisition Corp. Agree to Combine to Bring a Digital Banking Platform to the Public Market Under the New Name BM Technologies

“BankMobile Technologies, a subsidiary of Customers Bank, and one of America’s largest digital banking platforms, and Megalith Financial Acquisition Corp (“MFAC”), a special purpose acquisition company, announced today that they have entered into a definitive merger agreement.  Upon closing of the transaction, the combined company (the “Company”) will operate as BM Technologies Inc. and expects to be listed on the NYSE. The transaction reflects an enterprise value for the Company of $140 million.”