Recognized for Outstanding Achievements in Advancing Technology Solutions within the EdTech Sector, with a Focus on Enhancing the Higher Education Landscape for Both Schools and Students
RADNOR, PA / ACCESSWIRE / August 13, 2024 / BM Technologies, Inc. (NYSE American:BMTX) has been named the 2024 "EdTech Company of the Year" Gold Stevie® Award winner. This accolade was awarded in the Educational Technology Company of the Year category of the first annual Stevie Awards for Technology Excellence, "the Olympics for technology."
The Stevie Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 600 nominations from organizations of all sizes in 21 nations and territories were submitted this year in a wide range of tech-related categories. Over 100 professionals worldwide participated in the judging process to select this year's honorees.
"We are thrilled to receive this prestigious award and to be recognized as company of the year for innovations in the EdTech industry," said Jamie Donahue, President, and CTO of BM Technologies. "Our technology platform's ability to deliver scalable and cost-effective solutions underscores our commitment to supporting the evolving needs of colleges, universities, and our customers for life."
BMTX earned recognition for its impressive work in providing banking services in the higher education sector and its commitment to addressing emerging challenges in EdTech. 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 their refund the same business day,1 they can continue using their account for life. It offers an optional savings account, cash back Offers, and the ability to get paid up to two days early.
BMTX's recognized achievements include continuous innovation and significant platform infrastructure transformation. This investment in technology modernization unlocks the ability to roll out additional product and service enhancements, increases engagement with colleges and universities, and contributes to the success of BMTX's 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 back2 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.
Notably, comments from the Stevie® Awards judges commending the award submission included the following:
"BMTX's continuous innovation, including their new identity verification service and platform infrastructure transformation, shows a commitment to addressing emerging challenges in educational finance and enhancing their technological edge."
"BMTX goes the extra mile to simplify university life for students and school administrators, investing time and effort in enhancing their platform and processes. Their rewards system is widely enjoyed, teaching students smart spending habits. Their high customer retention rate demonstrates appreciation across multiple campuses. The industry needs more companies like BMTX, focusing on enriching lives rather than just monetary profit."
"BM Technologies stands out as a leader in the EdTech space, and their contributions make a meaningful difference in the industry."
Winners of the awards, named the Stevies from the Greek word meaning "crowned," will be recognized during a gala awards dinner on Monday, September 16 at the Marriott Marquis Hotel in New York City.
About BM Technologies, Inc.
BM Technologies, Inc. (NYSE American:BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts and financial wellness. It is focused on technology, innovation, easy-to-use products, and education with the mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. BM Technologies, Inc. (BMTX) is a technology company and is not a bank, which means it provides banking services through its partner banks. More information can be found at www.bmtx.com.
About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations and territories. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
1If you open a digital BankMobile Vibe Checking Account (upon identity verification), money is deposited the same business day we receive funds from your school.
2Per the Cash Back Terms and Conditions.
Contact Information
Media Inquiries:
Brigit Hennaman
Rubenstein Public Relations, Inc.
bhennaman@rubensteinpr.com
SOURCE: BM Technologies
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