Simple, previously known as BankSimple, has announced it has attracted 40,000 customers and is now processing $1bn dollars in transactions a year after opening its doors a year ago.
Despite 250,000 people requesting an invite to Simple, only 40,000 of those have become customers.
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Other metrics the fledging banking company has shared is that customers are saving nearly $100m with its online savings account and that it’s branded Visa cards have been swiped more than 2m times.
In a blog post announcing the milestones, co-founder and CEO, Joshua Reich, said: "One year is a big milestone for any company-and that goes doubly for us, as a startup working to disrupt a heavily-regulated and historically static industry.
"In addition to building a service that helps our customers spend smarter and save more, we’ve maintained a team and culture that’s focused on continuous innovation. It’s fair to say we’re future-minded: we spend a lot of time thinking about how banking should look in 2, 5, 10, or 20 years."
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