US-based digital lender Simple has announced plans to transfer all its customer accounts to BBVA Compass platform later in 2016.
The development will make Simple the first actual user of BBVA’s API in the US. The move will allow Simple to gain access to BBVA Compass’ platform, provide real-time services and a broader portfolio.
The digital bank will however, retain its managerial autonomy after the integration.
"Simple will continue being Simple, but will now benefit from the strengths of BBVA Compass’ platform. The integration will further consolidate the ties that bind both companies, allowing them to join forces while remaining independent," BBVA said in a statement.
Simple was acquired by BBVA in 2014. Among its various services include the Safe-to-Spend that offers customers knowledge on what they can safely spend today without hurting themselves in the future, and a built in savings and budgeting feature known as Goals that helps customers balance regular monthly expenses, lifelong dreams, among others.