BankSimple taps TxVia for payment processing

BankSimple taps TxVia for payment processing

US banking start-up BankSimple has selected TxVia for the provision of a card payment processing platform.

New York-based BankSimple claims it will reinvent personal banking when it launches later this year, offering "modern online and mobile experiences, no surprise fees, and great customer service".

Over 40,000 people have already signed up for a beta invite to the upcoming launch, gaining access to FDIC-insured products from the firm's partner banks through a single card.

TxVia will provide a customised and segregated platform-as-a-service processing platform, running on a hybrid private computer grid that works with BankSimple's cloud infrastructure.

In a blog, Joshua Reich, CEO, BankSimple, says the firm spurned the major processing platforms used by most US banks because their systems were designed decades ago and have been "very slow to adopt modern features".

"In this mobile-enabled, always-on world, banking customers can't understand why it's nearly impossible to get an accurate, real-time view of their finances. The TxVia PaaS delivery model is a banking technologist's dream, because it enables us to deliver on our customer-centric vision of banking," says Reich.

BankSimple's Josh Reich is speaking at Finextra's forthcoming Social Media Days conference in New York in May. Other speakers at the one-day event include: Howard Lindzon, founder of StockTwits, Ron Shevlin, senior analyst, Aite Group, Felix Salmon, Reuters, Nathan Bricklin, SVP, head of social strategy, Wholesale Banking, Wells Fargo, Karolina Reiss, founder & CEO of Reiss Omnimedia Group, Lori Feldman, director, branded and social media marketing, Citi GTS, Daniel Marovitz, MD, head of product management, Global Transaction Banking, Deutsche Bank, among others.

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