This morning, BankSimple made two big announcements.
1) It opened its service to a select group of non-employee customers for the first time:
"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."
2) It changed its name to Simple
(Simple.com). This is a logical move because the word "bank" was a misnomer. In fact, Simple is not a bank, but a consumer-facing product that partners with chartered banks that hold your money in FDIC-insured products:
"Simple is a better representation of what we aspire to. It releases us from the constraints of an industry in desperate need of innovation."
To learn more about Simple, watch its FinovateFall 2011 demo.