BM Technologies, Inc. (BMTX) Announces GoAskJay as New Workplace Banking Partner
Collaboration Marks GoAskJay’s First Digital Banking Platform Offering to its Approximately Three Million Users in the U.S.
Radnor, PA, July 07, 2021 (GLOBE NEWSWIRE) — BM Technologies, Inc. (NYSE American: BMTX, BMTX.W), one of the largest digital banking platforms in the country, announced GoAskJay, a direct-to-consumer insurance & financial marketplace tailored for any stage of your life or business, as a new Workplace Banking platform partner. BM Technologies’ (BMTX) Workplace Banking is a financial wellness service that offers innovative banking products to employees.
This collaboration marks GoAskJay’s first digital banking product offering, which will be available to its approximately three million users in the U.S. GoAskJay offers services that are both customized and bundled, which meet the needs of its customers and become embedded in their lives. The Workplace Banking platform will become part of the bundles offered to further help users successfully manage their finances. These types of partnerships can help employers retain their talent, since they are supporting their employees’ needs. COVID-19 has made employees more attentive to benefits with 70% planning to spend extra time reviewing voluntary benefit choices. The collaborations are also beneficial by helping insurtech companies grow their customer base and fintechs grow their revenue and provide additional services to customers.*
“It is exciting to announce our partnership with another female-led company in the financial services industry,” stated Luvleen Sidhu, Chair, CEO and Founder of BM Technologies (BMTX). “Our two companies both feel that wellbeing is important and it starts with financial health and wellness. Through this collaboration, many more Americans will have access to our financially-empowering, customer-centric banking platform.”
“BM Technologies’ (BMTX) Workplace Banking offers many innovative banking solutions that we felt were important to our users,” stated Uni Yost, CEO/Founder of GoAskJay. “After vetting many platforms on the market, we decided that this collaboration would help our customers the most because of our joint dedication to financial wellness.”
BM Technologies’ (BMTX) Workplace Banking platform includes the following banking and financial wellness services: Workplace Checking Account, Workplace Savings Account, robust banking app, generous interest, early payday, access to over 55,000 fee-free Allpoint® ATMs, built-in money management tools, personalized financial coaching, a financial wellness assessment, virtual webinars and interactive tools, among other helpful resources.
Launched in January 2015, BM Technologies (BMTX), formerly known as BankMobile, is on a mission to provide a digital-first banking experience that is simple, affordable and financially empowering. The company went public this year and is being traded under the fintech stock ticker symbols BMTX and BMTX.W. With approximately two million accounts, BM Technologies (BMTX) is EBITDA-positive. Its low-cost distribution and profitable model continue to set it apart from other neobanking fintechs in the market.
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About BM Technologies, Inc. (BMTX)
BM Technologies, Inc. (NYSE American: BMTX, BMTX.W)—fomerly known as BankMobile— is among the largest digital banking platforms in the U.S., providing access to checking and savings accounts, personal loans, credit cards, and financial wellness. It is focused on technology, innovation, easy-to-use products, and education with the mission of being “customer-obsessed” and creating “customers for life.” The BM Technologies (BMTX) digital banking platform employs a multi-partner distribution model, known as “Banking-as-a-Service” (BaaS), that enables the acquisition of customers at higher volumes and substantially lower expense than traditional banks, while providing significant benefits to its customers, partners and business. BM Technologies (BMTX) currently has approximately two million accounts and provides disbursement services at approximately 735 college and university campuses (covering one out of every three college students in the U.S.). BM Technologies, Inc. (BMTX) is a technology company and is not a bank, which means it provides banking services through its partner bank. More information can also be found at https://ir.bmtxinc.com/.
About GoAskJay
GoAskJay is a direct-to-consumer insurance & financial marketplace tailored for any stage of your life or business. We use AI to match products to customers and give you the easy-to-use experience you deserve. We are changing the face of insurance and the financial space. For more information, please visit https://goaskjay.com/.
*BenefitsPro: Fintech and insurtech partnerships create more benefits options for companies and employees
CONTACT: Kati Waldenburg BM Technologies, Inc. (BMTX) 212-805-3014 kwaldenburg@rubensteinpr.com
