BankSimple issues first cards to staff

BankSimple issues first cards to staff

US online banking start-up BankSimple is inching towards launch, issuing its first few cards to employees for testing.

The brainchild of Josh Reich, the New York-based founder of data specialist i2pi, BankSimple is seeking to take advantage of public disillusionment with financial services firms.

Over 50,000 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.

In March it selected TxVia for the provision of a customised and segregated platform-as-a-service processing platform, running on a hybrid private computer grid that works with BankSimple's cloud infrastructure.

Now the first 20 cards have been handed over to staff for testing in New York, Portland and San Francisco ahead of a wider roll out involving family and friends and eventually beta invites.

Says Adam Erlebache on the site blog: "While we are thrilled to have our cards in-hand, we will be taking the necessary time to ensure that our systems are rock solid and that our card fulfillment operations can handle the demand."

BankSimple was initially slated to launch late last year but Erlebache concedes the team has been "taught great patience" recently as it bids to "change an industry".

Comments: (1)

Elizabeth Lumley
Elizabeth Lumley - Girl, Disrupted - Crayford 20 May, 2011, 16:40Be the first to give this comment the thumbs up 0 likes

Josh Reich speaks to Finextra about the 'first 20 cards' in a Finextra video coming to the site next week.