The company had this to say on its blog:
We’re thrilled to be welcoming our first customers. We want to understand what works for them and what can be improved. We also want to learn how our customers prefer to reach us so that we can intelligently grow our customer relations team. Using this feedback, we’ll rework and revise; the experience we’re launching today will continuously evolve. There is still a tremendous amount to be done, but as of today we are live to our first customers, and that’s a huge milestone for us.
The company has been working on its banking platform since early 2010, and the first “Simple” Visa cards have been sent out.
Simple replaces your bank, but isn’t a bank the company says. It partners with chartered banks to hold your money, as Simple’s service assists you with managing it.
Using Simple, you can make purchases with a Simple Visa® card, pay bills, earn interest, set up and track savings goals, and much more. Simple replaces your bank, but we are not a bank. You use our mobile and web apps and speak with our customer relations team when you have questions. We partner with chartered banks that hold your deposits in FDIC-insured products. They take care of money, we take care of customers, and together we’re delivering a new type of financial experience that’s easier, faster, and friendlier.
With a focus on customer service, Simple aims to make the banking experience a better one for consumers, focusing on both web and mobile experiences. To date, online banking hasn’t been the best experience, with companies like Mint helping you manage your money more effectively.
Here’s a demo video that Simple provided in September, with an overview of how the service works:
Simple is still accepting invite requests, so be sure to get in line.