BankMobile Technologies, a subsidiary of Customers Bank and a digital banking platform provider, has entered a merger agreement with Megalith Financial Acquisition Corp. As part of the deal, the combined companies will operate as BM Technologies Inc., according to a press release.

All BMT loans and deposits will remain with Customers Bank, while BM Technologies will focus on bringing banks and business partners closer together through its digital banking platform.

"There has been rapid growth of digital banking platforms, or neobanks, as many customers search for less burdensome access to banking services," A.J. Dunklau, CEO of MFAC, said in the release. "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."