Issuing: BankSimple Launches New Card Pilot Tests
- US new entrant BankSimple, founded in 2010, innovates in the retail banking sector. Its services rely on customer relation transparency, simple and low cost offers, as well as the use of social media. It has issued its first twenty bank cards, for now only delivered to its own employees (in New York, Portland and San Francisco).
- Issuing will later on be expanded to relatives of these employees, before it being proposed to the already 50,000 online subscribers of BankSimple services.
- These cards are still being tested and BankSimple insists on its original positioning as well as on its promises to its customers. Among other elements, its banking offer should include a PFM tool with predictive analysis module.
- All products will be linked in order to optimise account balance reporting and ensure that all transactions are completed: credit transfers from a saving account to a current account in case of overdraft, prepaid cards reloaded automatically, etc. If successful, this new offer could become a mandatory feature for all banks around the world.