Mobile-First Bank Simple closes its doors

One of the world’s first mobile banks is closing. After an email notice began circulating on Twitter earlier today, a BBVA spokesperson confirmed to Engadget that the company was planning to shut down Simple. The move is part of an ongoing effort by the bank, one of the world’s largest, to streamline its operations ahead of a merger with financial services company PNC.

“BBVA USA continually assesses strategic priorities and resources, including existing and potential partnerships with outside organizations,” the spokesperson said. “As a result, today we are accelerating some changes and stopping work on others, including the shutdown of Simple. These reviews are part of our normal processes and have resulted in the closure of other businesses over the past year, depending on performance and the economic environment, including Covault (2020) and Denizen (2019). ”