Exhibit 5.1

	NELSON MULLINS RILEY & SCARBOROUGH LLP
	ATTORNEYS AND COUNSELORS AT LAW
	101 Constitution Avenue, NW
	Suite 900
	Washington, DC 20001
	T: 202.689.2983 F: 202.689.2952
	nelsonmullins.com

September 29, 2021

BM Technologies, Inc.
201 King of Prussia Road, Suite 350

Wayne, PA 19087

RE: Registration Statement on Form S-8

Ladies and Gentlemen:

We have acted as counsel to BM Technologies, Inc., a Delaware corporation (the “Company”) in connection with the Registration Statement on Form S-8 (the “Registration Statement”), relating to the Company’s BM Technologies, Inc. 2020 Equity Incentive Plan (the “Plan”) and the Company’s BM Technologies, Inc. 2021 Employee Stock Purchase Plan (the “ESPP”), to be filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) on or about September 28, 2021. The Registration Statement relates to 1,220,037 shares (the “Plan Shares”) of the Company’s common stock, $0.0001 par value per share (“Common Stock”), for issuance under the Plan, and 500,000 shares (the “ESPP Shares,” and together with the Plan Shares, the “Shares”) of Common Stock for issuance under the ESPP Plan.

We hereby consent to the filing of this opinion as Exhibits 5 and 23.1 to the Registration Statement and to the reference to our name in the Registration Statement.

As counsel to the Company, we have examined and are familiar with originals or copies, certified or otherwise identified to our satisfaction, of such statutes, documents, corporate records, certificates of public officials, and other instruments as we have deemed necessary for the purpose of this opinion, including the Company’s Second Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and the record of the proceedings of the directors of the Company.

Based upon the foregoing, we are of the opinion that the Shares that may be issued and sold from time to time in accordance with the Plan or the ESPP, as applicable, have been duly authorized for issuance and will, when issued, sold and, when applicable, paid for in accordance with the Plan or the ESPP, as applicable, be legally issued, fully paid and non-assessable.

California | Colorado | District of Columbia | Florida | Georgia | Maryland | Massachusetts | New York

North Carolina | South Carolina | Tennessee | West Virginia

BM Technologies, Inc.

September 29, 2021

Page 2

This opinion is being rendered to be effective as of the effective date of the Registration Statement, and we disclaim any obligation to revise or supplement this opinion should the present Delaware General Corporation Law be changed by legislative action, judicial decision or otherwise, should there be factual developments which might affect any matters or opinions set forth herein or for any other reason.

We do not find it necessary for the purposes of this opinion, and accordingly we do not purport to address herein, the application of the securities or “Blue Sky” laws of the various states to the issuance and sale of the Shares.

This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein. This opinion is furnished to you in connection with the filing of the Registration Statement and is not to be used, circulated, quoted or otherwise relied upon for any other purpose.

Very truly yours,

/s/ Nelson Mullins Riley & Scarborough, LLP

NELSON MULLINS RILEY & SCARBOROUGH, LLP