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PREMISES AND EQUIPMENT AND DEVELOPED SOFTWARE
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PREMISES AND EQUIPMENT AND DEVELOPED SOFTWARE PREMISES AND EQUIPMENT AND DEVELOPED SOFTWARE
Premises and equipment

The components of premises and equipment were as follows:
(amounts in thousands)Expected Useful LifeDecember 31,
2022		December 31,
2021
Leasehold improvements5 years$— $28 
Furniture, fixtures, and equipment10 years135 243 
IT equipment
3 to 5 years
1,377 1,813 
1,512 2,084 
Accumulated depreciation(1,004)(1,738)
Total$508 $346 
Depreciation is recorded in Occupancy expense on the Consolidated Statements of Income (Loss). BMTX recorded depreciation expense of $0.3 million and $0.2 million, for the twelve months ended December 31, 2022 and 2021, respectively.
Developed software
The components of developed software were as follows:
(amounts in thousands)Expected Useful LifeDecember 31,
2022		December 31,
2021
Higher One Disbursement business developed software10 years$27,400 $27,400 
Internally developed software
3 to 7 years
42,504 41,683 
Work-in-process3,077 421 
72,981 69,504 
Accumulated amortization(50,657)(40,911)
Total$22,324 $28,593 

Amortization is recorded in Technology, communication and processing expense on the Consolidated Statements of Income (Loss). BMTX recorded amortization expense of $11.4 million for the twelve months ended December 31, 2022 and 2021, respectively.

Impairment is reported in Technology, communication and processing expense on the Consolidated Statements of Income (Loss). BMTX recorded impairment expense of zero and $0.2 million for the twelve months ended December 31, 2022 and 2021, respectively.