Megalith Financial completed the merger with Customers Bank-backed BankMobile Technologies in a $140m deal.​

Megalith Financial, a blank check company, completed the merger with Customers Bank-backed BankMobile Technologies, an American digital banking platform in a $140m deal. “There has been rapid growth of digital banking platforms, or neobanks, as many customers search for less burdensome access to banking services. We believe that BankMobile’s approach to collaborate with distribution partners and partner banks, positions it well to continue to grow as an increasing number of non-banks are looking to offer financial services to their existing customers. Accordingly, we believe that the opportunity to bring BankMobile to the public markets as a stand-alone company is highly attractive,” A.J. Dunklau, MFAC CEO.