BBVA CompassRSS

Simple’s move to new bank API leaves some customers stranded

Simple

Simple, a US-based digital banking service founded in 2009, has discovered that moving accounts to its parent bank’s application programming interface (API) is not that simple.

BBVA writes down $89.5m for Simple in three years since $117m acquisition

Image source: Simple

BBVA Compass has unveiled a “goodwill impairment” charge of $60 million in its latest financial results, attributed to its direct banking service subsidiary, Simple. BBVA bought Simple in 2014 for $117 million. It has since written down $89.4 million.

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