# BM Technologies

> BM Technologies operates BankMobile digital banking, higher-education refund disbursements, and applicant identity verification. Its campus relationships connect institutional payment workflows with optional consumer banking accounts. First Carolina Bank acquired the company in January 2025.

- **Founded:** 2015
- **Headquarters:** Rocky Mount, United States
- **Founders:** Luvleen Sidhu (Co-founder; former Chair and CEO), Jay Sidhu (Co-founder)
- **Products:** BankMobile Disbursements, BankMobile checking and savings, Identity Verification, BankMobile cash back Offers, White-label banking / BaaS
- **Notable:** Public-company independence completed January 4, 2021 through the Megalith transaction., Approximately 750 campus partners reported in 2023 investor materials., Acquisition by First Carolina Bank completed January 31, 2025.

## Products & services

- **BankMobile Disbursements** — Financial-aid credit balance and refund management for colleges, including exception handling, refund selection, and student support.
- **BankMobile checking and savings** — Digital deposit accounts and debit-card services, with banking products provided by First Carolina Bank.
- **Identity Verification** — Applicant screening for colleges using layered identity data and fraud controls.
- **BankMobile cash back Offers** — Kard-powered rewards on eligible debit purchases; launched in July 2024.
- **White-label banking / BaaS** — Historically powered branded banking through distribution partners including T-Mobile; a BaaS partnership was being discontinued in 2026.

## Achievements

- Public-company independence completed January 4, 2021 through the Megalith transaction.
- Approximately 750 campus partners reported in 2023 investor materials.
- Acquisition by First Carolina Bank completed January 31, 2025.
- Company announced a 2025 BIG Innovation Award for higher-education products.

## Latest updates

- **2026-08** — Parent’s June 30, 2026 10-Q reported a $2.7 million first-half BM Tech segment net loss and a planned BaaS partnership discontinuation; comparative 2025 results cover five months after acquisition.
- **2026-04** — Kard published a case study describing the rewards program launched in July 2024.
- **2025-02** — First Carolina announced completion of its approximately $66 million acquisition, effective January 31, 2025; Jamie Donahue continued as President and Chief Digital Officer.

## Links

- Website: https://www.bmtx.com
- LinkedIn: https://www.linkedin.com/company/officialbmtech
- Twitter/X: https://x.com/OfficialBM_Tech
- Instagram: https://www.instagram.com/bankmobile/

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Profile page: https://yespress.io/bm
Published by YesPress — https://yespress.io
Last updated: 2026-10-25