Remember when Simple launched in 2011 and wanted to reinvent banking? They were originally BankSimple, and when they announced that they were becoming simple they posted this blog article,  setting the change as being something that  "releases us from the constraints of an industry in desperate need of innovation.".

Well now 6 years have passed, users were disappointed when their 'new bank' wasn't so new and just a storefront for other banks.  Similar to how MVMOs backbone on other major networks, well now the time has come for Simple to 'evolve' again and is changing backend banks.

Unfortunately the company wasn’t able to get to everyone before its deal with The Bancorp ended and it would be forced to close the remaining accounts.

https://twitter.com/arfrank/status/852639585733533696

[Source: TechCrunch]