Customers Bancorp in West Reading, Pa., will let its deposit servicing agreement with BM Technologies lapse at the end of this year.
The $19.6 billion-asset company said in a press release Monday that the agreement, tied to its January 2021 divestiture of BankMobile Technologies, will save it about $60 million a year.
A full launch took place earlier this month, and Customers said it expects deposits “to grow significantly in 2022.”