BM Technologies Announces Acquisition Of Envel, Inc.'s Software Technology; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
BM Technologies (BMTX) has announced the acquisition of Envel, Inc.'s software technology, which uses AI to automate elements of financial management such as budgeting, savings, and investments. The acquisition aims to enhance BMTX's features and capabilities.
June 20, 2023 | 12:40 pm
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BMTX acquires Envel's AI-powered software technology to enhance its digital banking platform's features and capabilities, potentially attracting and retaining more customers.
The acquisition of Envel's software technology will enhance BMTX's digital banking platform by adding AI-powered financial management features. This could help BMTX attract and retain more customers, leading to increased revenues and a positive impact on its stock price in the short term.
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