BM Technologies, Inc. Announces Executive Officers and Directors Changes
January 08, 2021 at 10:23 pm
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On January 4, 2021, Megalith Financial Acquisition Corp. (Megalith"), MFAC Merger Sub Inc., (Merger Sub") and BankMobile Technologies, Inc. (BankMobile") consummated the transactions contemplated by the Merger Agreement (as defined below) (the Transactions"), following the approval at the special meeting of the stockholders of Megalith held on December 21, 2020 (the Special Meeting"). In connection with the Closing (as defined below) of the Merger, the registrant changed its name from Megalith Financial Acquisition Corp. to BM Technologies, Inc. (the Company" or BMT"). The following persons are serving as executive officers and directors following the Closing. Luvleen Sidhu as Chairman of the Board and Class III Director, Pankaj Dinodia as Director & Member of the audit committee, compensation committee & Class I Director, Mike Gill as Director & Member of the compensation committee & Class II Director, Aaron Hodari as Director & Member of the audit committee & Class I Director, Brent Hurley as Director, Member of the compensation committee, nominating and corporate governance committee & Class III Director, A.J. Dunklau as Director, Member of the nominating and corporate governance committee & Class II Director, Marcy Schwab as Director, & Class II Director, Robert Diegel as Chief Operating Officer, Robert Savino as Chief Technology Officer. Effective upon Closing, each of Jay Sidhu, Samvir Sidhu, Chad Hurley, Raj Date, Eric Frank, Bhanu Choudhrie and Kuldeep Malkani resigned as directors of Megalith. Effective upon Closing, each of A.J. Dunklau and Philip Watkins resigned as officers of Megalith.
BM Technologies, Inc. is a financial technology company. The Company facilitates deposits and banking services between a customer and its partner bank, Customers Bank and First Carolina Bank, (the Partner Banks), which are related parties. The Company provides high-tech digital banking and disbursement services to consumers and students nationwide through a full service fintech banking platform, accessible to customers anywhere and anytime through digital channels. Its banking platform provides access to checking and savings accounts, personal loans, and financial wellness. Its fintech business model leverages Banking-as-a-Service (BaaS) partnersâ and University partnersâ existing customer bases to achieve high volume, low-cost customer acquisition in its Higher Education Disbursement and BaaS businesses.