Simple Releases First Mobile Banking App, Hits #13 in Finance Category of iPhone App Store

image The much-anticipated launch of the first truly virtual consumer bank is fast approaching. How do we know? From its tweets, of course (see inset).

Bank Simple tells a twitter follower when to expect a beta inviteCustomers who joined the wait list in 2010 are being told publically that they will receive invites “before spring is over.” Others are being told “early summer,” “mid-to-late summer,” “early fall” and “fall.”  Based on those responses, it looks the company plans to work through its entire 100,000 wait list within the next 6 months.

A critical piece of the grand opening is pushing the Simple mobile app past the gatekeepers at Apple. That happened last week (9 May). Within 48 hours, the app had already jumped to 13th-most-popular in the finance section, despite the fact that no one but a few early testers could actually use it. Today, it’s fallen back to 53rd in the rankings.

In terms of how it works, all we can do now is drool over the half-dozen screenshots published in the store and on the Simple website. We especially like how they’ve anchored the forward-looking “Safe-to-Spend” balance in the top-center of every page (see below). The app also includes remote check deposit, something the startup has talked about before.

We’ll look at it in much more detail once we get our Simple account, presumably in the next three to four weeks.

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Simple mobile banking app, v1.3.1 (14 May 2011)
Itemized transaction with                     Extra authentication code
Safe-to-Spend balance on top               for higher-value transfers

image          image

Simple Releases First Mobile Banking App, Hits #13 in Finance Category of iPhone App Store

image The much-anticipated launch of the first truly virtual consumer bank is fast approaching. How do we know? From its tweets, of course (see inset).

Bank Simple tells a twitter follower when to expect a beta inviteCustomers who joined the wait list in 2010 are being told publically that they will receive invites “before spring is over.” Others are being told “early summer,” “mid-to-late summer,” “early fall” and “fall.”  Based on those responses, it looks the company plans to work through its entire 100,000 wait list within the next 6 months.

A critical piece of the grand opening is pushing the Simple mobile app past the gatekeepers at Apple. That happened last week (9 May). Within 48 hours, the app had already jumped to 13th-most-popular in the finance section, despite the fact that no one but a few early testers could actually use it. Today, it’s fallen back to 53rd in the rankings.

In terms of how it works, all we can do now is drool over the half-dozen screenshots published in the store and on the Simple website. We especially like how they’ve anchored the forward-looking “Safe-to-Spend” balance in the top-center of every page (see below). The app also includes remote check deposit, something the startup has talked about before.

We’ll look at it in much more detail once we get our Simple account, presumably in the next three to four weeks.

————————–

Simple mobile banking app, v1.3.1 (14 May 2011)
Itemized transaction with                     Extra authentication code
Safe-to-Spend balance on top               for higher-value transfers

image          image

Finovate Alumni News– May 14, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Insight reports cbanc Network Reaches 10,000 Users Milestone.
  • Bill.com Wins Barlow Research Client Conference Innovation Showcase Award.
  • Clairmail Wins San Francisco Business Times Tech and Innovation Award.
  • AcceptEmail and TrustWeaver announce partnership.
  • PYMNTS News reports Acculynk announces Alaska option issuers enabled with PaySecure internet PIN debit.
  • Aptys Solutions Offers Financial Institutions Affordable Archiving Alternative.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Five of Fast Company’s 10 Most Innovative Companies in Finance are Finovate Alums

Fast Company recently published a list of most innovative companies that contained multiple Finovate alumni. Here’s the breakdown:

Overall top 50 most innovative companies:

Thumbnail image for Google.jpg

Google
Rank: 3
FinovateFall 2011 demo

Thumbnail image for PayPalLogo.jpg

PayPal
Rank: 43
FinovateSpring 2011 demo

Top 10* in finance category:

PayPal
Rank: 4
FinovateSpring 2011 demo

Thumbnail image for SecondMarketLogo3.jpg

SecondMarket
Rank: 6
FinovateStarup09 demo

Thumbnail image for DwollaLogo.jpg

Dwolla
Rank: 8
FinovateSpring 2011 demo

SimpleLogo.jpg

Simple (formerly BankSimple)
Rank: 9
FinovateFall 2011 demo

StockTwits
Rank: 10StockTwitsLogo4.jpg
FinovateEurope 2011 demo

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*Also included in the finance category are:

2. Starbucks
3. Kickstarter
5. Y Combinator
7. American Express

Finovate Alumni News– January 25, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgKony selected as mobile application platform for Intermountain Healthcare and SelectHealth.
  • PC Mag selects MyCyberTwin as 1 of 25 best small business apps for 2012.
  • Simple CEO, Josh Reich, talks to Business Insider about all the ways Simple has improved on traditional banks.
  • Brian Garrett, a 40-year banking veteran joins BillFloat as senior advisor.
  • Cardlytics chosen to power BankAmeriDeals from Bank of America.
  • Kapitall enables users to trade stocks through its platform.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– January 20, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBusiness Insider looks at how BillGuard and Simple use Big Data.
  • Dough Roller recommends using HelloWallet to keep track of your cash.
  • P2P-Banking looks at Zopa’s online marketing spending.
  • NACS Online explores the Dynamics smarter credit card.
  • American Banker suggests banks should consider working with merchant reward companies like Cardlytics and Cartera Commerce.
  • PayPal’s payments technology to reach all Home Depot locations by March.
  • SecondMarket exceeds $1 billion in deals.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– January 17, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAGBeat highlights doxo’s free cloud storage and bill pay.
  • Blogger Crystal Beasley analyzes the password selection process in Simple’s interface.
  • The Arizona Republic recommends using CreditKarma to compare credit cards.
  • PandoDaily reports, “Wealthfront: The Antidote to the Wealth Management Zombies”
  • FiPath For Advisors (formerly eRollover) partners with social media monitor, Arkovi.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

2011 Funding for Finovate Alumni– Over $423 Million Raised

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTo wrap up 2011, we’ve compiled a list of all of the funding Finovate alumni received over the course of the year. 

The results were impressive:
  • A total of 34 companies received funding, some more than once
  • The companies collectively raised over $423 million dollars
  • The months with the highest number of companies receiving funding were June August, both with 8 companies
  • The highest amount of funding came in the month of June, when the alumni brought in over $124.4 million
Here is a month-by-month breakdown of funding received:
January — $40.8 million raised by 3 companies
February — $10.3+ million raised by 3 companies
March — $20.4 million raised by 4 companies
June — $124.4 million raised by 8 companies
July — $1.1 million raised by 1 company
August — $103.4 million raised by 8 companies
September — $33 million raised by 1 company
October– $22 million raised by 2 companies
November — $16.3+ million raised by 3 companies
December — $52.2 million raised by 5 companies
Note: Funding that companies received before they demonstrated at Finovate was not counted. If you see any funding that is not on this list, please send the name of the company along with a link to the funding information to julie@netbanker.com and I will add it.

Finovate Alumni News– December 21, 2011

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  • Fox News discusses how Prosper & Lending Club help small businesses.
  • BizReport examines card-linked offers from Linkable Networks (formerly CLOVR Media).
  • ReadWriteWeb’s Richard MacManus lists Xero as #8 in his 2011 list of top 10 web products.
  • Inc Magazine lists Expensify as 1 of 8 startups to watch in 2012.
  • Ping Identity makes the top 10 list of most exciting IT security vendors. Come see Ping Identity’s live demo at FinovateEurope.
  • HelloWallet gives away 20,000 free subscriptions in 2011 to families in need.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News– December 20, 2011

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  • Steven Kietz, former Mobile Money Ventures CEO, joins EDO Interactive as GM & EVP of Strategic Partnerships.
  • CNNMoney discusses how Simple can provide a no hassle bank account.
  • Melrose Mutual Insurance Company, Grinnell Mutual, & ID Theft 911 partner to remind shoppers to safeguard identities.
  • Forbes names Dwolla’s Ben Milne to ’30 Under 30′ list for finance.
  • BizReport interviews Xero to discover how the cloud is helping small businesses.
  • Fox Business News recommends visiting Credit Sesame and Credit Karma to check your credit score.
  • INOVA FCU depicts its success from using Mortgagebot’s PowerSite.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.