Competitor Profile: Simple

Competitor Profile: Simple

Summary

Simple is a digital-only bank that was founded in 2009 by Alex Payne, Joshua Reich, and Shamir Karkal. In February 2014, Simple was acquired by BBVA for $117m. Simple offers mobile banking through its app, which is available on both the Apple App Store and Google Play Store, as well as online banking through its website. Through both channels, Simple offers money management tools to help users reach their financial goals. These tools include one that shows customers how much they have left to spend after their recurring bills are covered and money is set aside for saving.

This report provides information and insights on Simple, including details of its business and geographical presence, comprehensive coverage of its products and services, a comparative assessment of its main competitors, and a look at its key events and milestones.

Scope

- In November 2012, Simple introduced Goals.
- In February 2014, Simple was acquired by BBVA.
- In September 2016, Simple introduced shared accounts.

Reasons to buy

- Gain insight into Simple’s business operations and the key events in its history.
- Learn about its product and service portfolio.
- Assess the competitive dynamics in the retail banking industry by comparing the company’s performance against competitors.