The Tragedy and Vision of Simple's Banking Revolution
The Tragedy and Vision of Simple's Banking Revolution
Banking is not an industry known for technical innovation. The apps from most major banks feel like thinly veiled web views, and updates with major new features are few and far between. I think we’re mostly just accustomed to this reality and don’t spend much time thinking about how much a great banking app could change the way we interact with our finances. That’s why Simple bank has been so extraordinary.
Simple is an online-only bank that started in 2010. It was founded on some radical ideas (for a bank), such as zero fees, built-in budgeting tools, accessible customer service, and a first-class app. Starting a new bank is not an easy task, but the Simple team pulled it off. They ignited their revolution, and for over a decade, Simple provided its users with a banking experience unlike anything else in the industry.