Benzinga | Jun 30, 2021 10:10AM EDT

BM Technologies Announces Partnership With Array

BM Technologies, Inc. (NYSE:BMTX, BMTX.W))))), one of the largest digital banking platforms in the country, announced it has partnered with Array, the leading embeddable consumer credit monitoring and identity protection platform. Through this collaboration, BM Technologies (BMTX) will be able to offer customizable credit-related capabilities as a part of its Banking-as-a-Service (BaaS) product offering.

"Our partnership with Array will allow us to deliver a superior BaaS product by adding consumer credit information, identity tools and more financial management capabilities to our offering. Given our modern technology stack, we will be able to easily integrate Array's user-friendly tools into our product to provide our customers with a seamless experience," stated Jamie Donahue, Chief Technology Officer at BM Technologies (BMTX).

BM Technologies' (BMTX) BaaS product offering will soon include credit scores and detailed credit reports to users. The new feature will also demonstrate how credit scores can be impacted by specific actions or behaviors and users can opt in to receiving alerts about changes to their credit profile. This will help BM Technologies' (BMTX) customers better manage their financial lives specifically around credit and also drive deeper user engagement and improved retention of the company's customer base.

"By integrating our tools into BM Technologies' (BMTX) BaaS platform, we are providing account holders access to additional important financial information," stated Martin Toha, Founder and CEO of Array. "Our portfolio of consumer data tools is dedicated to helping companies enhance the customer journey and enable account holders to make smarter decisions."

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 customer-centric. 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 neobank fintechs in the market.