The New New Bankers

Simple’s Up and Running, But It’s Got a Long Way to Go

Spiffy! (simple.com)

Here’s something that’ll resonate if you’ve tried to communicate with your bank lately: “Banks make money by keeping customers confused.” That’s how Josh Reich, cofounder of Simple, explained his company to the New York Times. “There’s no incentives to make the experience better,” he added.

Today the Times writes about how Mr. Reich and his cofounder Shamir Karkal want to provide an alternative, in the form of a stripped down, perfectly clear alternative–one completely without sob-inducing hidden fees.

Of course, that’s easier said than done. Read More