BM Technologies
BM Technologies is a digital banking platform that enables secure, low-cost banking for consumers and partners through a cloud-based, B2B2C model. It offers checking and savings accounts, personal loans, credit cards, and financial wellness tools, with deposits and banking services provided via a partner bank, Customers Bank. The platform supports customers nationwide through digital channels and serves both individuals and students by facilitating deposits, disbursements, and everyday banking activities. Revenue derives from interchange and card income, servicing fees, account fees, and university-related fees, reflecting activity-driven flows such as deposits and spending. BM Technologies focuses on delivering a full-service fintech banking experience accessible anytime and anywhere, connecting customers with banking services through partner institutions and digital platforms.
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Envel
Acquisition in 2023
Envel, Inc. is a financial services company founded in 2017 and headquartered in Boston, Massachusetts, that focuses on providing innovative banking solutions for Generation Z and younger millennials. The company has developed an artificial intelligence-based retail banking platform that offers real-time guidance for personal finance management. Envel's technology employs machine learning to analyze individual spending habits and automatically organizes users' income into various categories, promoting effective saving and spending behaviors. The platform, known as the Envel Money Management System, aims to help users build wealth, save for emergencies, and achieve financial stability while minimizing unnecessary expenditures. Envel's mission is particularly focused on assisting college students in managing their finances and reducing debt, with the goal of eventually supporting over one million students in their financial journeys.
First Sound Bank
Acquisition in 2021
Established in 2004, First Sound Bank is a commercial bank based in Seattle, Washington. It offers a range of services tailored to local businesses and individuals, including business banking, personal banking, mortgages, loans, credit cards, and online/mobile banking.
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