Simple Logo PNG
Threads of communication underlie the logo. Their interlacing creates an intricate pattern of service points, customers, payment services, and bank cells. The Simple logo shows the connection between the bank and its customers through online channels.
Simple is a virtual bank without physical branches. It operates through online banking, an official website, and mobile applications for Android and iOS. It provides Visa cards to account holders. Simple is part of the Allpoint network and offers free access to 55,000 ATMs. It is part of the BBVA Group, one of Europe’s largest financial institutions. In November 2020, PNC Financial Services Group, Inc. took control.
This organization’s activity began in 2009, when it was founded by three financiers: Alex Payne, Joshua Reich, and Shamir Karkal, who took key management positions. They have served as CTO, CEO, and CFO. They initially focused their virtual banking structure in Brooklyn. A few years later (in 2011), they moved their office to Portland, Oregon (USA).
The move followed strong financial support from several investors and a single fund. The bank opened a head office in the new city, collecting interest on customer deposits and charging an exchange commission. In winter 2014, one of Europe’s largest banks, Banco Bilbao Vizcaya Argentaria, acquired it. At the end of autumn, BBVA acquired Simple from PNC Financial Services Group, Inc.
Meaning and History
Each key stage in the bank’s work was reflected in its symbolism. The main changes occurred at the start of its career, with its move to Portland and after BBVA’s purchase. In total, Simple has three emblems.
The bank’s logo continued the concept of ease of use and maintenance. Indeed, unlike traditional institutions, it had no branches. Clients used online banking only through the system, on iOS, or on Android. Therefore, the visual identity was as simple as possible: a circle formed by several intertwined lines. The numbers changed depending on the period. The simplest logo refers to 2014: it had a ring formed by three wavy stripes. They were assembled like a Möbius strip. In total, the bank has three emblems because it ceased to exist in 2021.
What is Simple?
Simple is the first neobank in America, operating exclusively online with no physical branches. It was created in 2009 and lasted only 12 years, closing in 2021.
2009 – 2011
At the beginning of its work, the bank adopted a laconic logo that echoed its name, BankSimple. It was simple, with a miniature icon on the left and text on the right. The icon depicted a wallet; next to it was the full name of the banking and financial organization. Both elements were bi-colored, consisting of blue and white. The phrase was written as a single unit, with each stem highlighted in capital letters.
2011 – 2016
In 2011, the developers removed the word “Bank” from the title, leaving only the second part. They also changed the inscription’s font: “Simple” got a choppy typeface with generous inter-letter spacing. All symbols are crisp, clear, and legible. Geometric letters emphasized the seriousness of the banking structure.
In contrast, an icon of interweaving lines appeared. It allegorized a virtual network, since the bank had no physical branches. The red and blue stripes symbolize the cable and communication paths with customers and indicate many services within their structure.
2016 – today
As a result of the redesign, the number of intertwined lines has been greatly reduced. Three remain, more like links in a single chain that closes on itself. The circle is uneven, with arches protruding along the outer edge. Next is the word “Simple” in blue. The designers have removed black from the logo. The letters’ shape and size remained simple, smooth, and grotesque in uppercase.
Font and Colors
Since the bank is virtual, management focused on this and chose logo elements that most closely resemble wire communication. These are thin lines connected like a cable. They also symbolize customer communication via mobile applications, online banking, and the official website. Each option emphasizes that using this bank is simple, as its name suggests.
Under the Simple concept, the round icon features a guilloche pattern resembling a ring. This complex pattern consists of simple geometric lines repeated in a specific order. This logo design is directly related to finance because guilloche is an element of almost all currencies. It appears on banknotes and signals security and authenticity.
The bank chose the Gotham typeface by Hoefler & Frere-Jones for its logo. She moved from American signage to typography in the early 20th century. With the advent of modern technologies, it has regained relevance because of its strong design. The developers made only slight changes to the font, adapting it to the bank’s requirements and keeping it as simple as possible. The emblem’s color scheme is also simple: blue on a white background.
FAQ
Does Simple Bank still exist?
Simply put, an online banking service no longer exists. It officially closed on May 8, 2021, and customers’ accounts were moved to BBVA USA checking and savings accounts.
The brand offered features to help users manage their finances more effectively. One feature was the automated round-up savings tool, which helped customers save $1.2 million in under four months by February 2020.
The brand could not continue alone. BBVA USA, which acquired the company in 2014, integrated the brand into its services, resulting in the company’s closure and the transfer of its customers’ accounts to BBVA.
Is Simple a good bank?
According to many users, Simple was a good bank. It offered high-yield checking accounts with an APY higher than many savings accounts, making it attractive for maximizing earnings. The brand provided unique budgeting tools to help track goals and automate savings for immediate and long-term expenses. These features were designed to simplify financial management and make it easier for customers to manage their finances.
Despite its benefits, the brand is no longer in operation. While it offered valuable features and was well-regarded, customers now need to explore other banking options or use BBVA USA for their financial needs.
Who owns Simple Bank?
BBVA, a Spanish banking group, owns Simple. BBVA bought the brand in 2014 to expand its digital banking services. The goal was to add Simple’s innovative features to BBVA’s offerings.
In January 2021, BBVA announced it would close the bank later that year. The bank officially closed on May 8, 2021. After the shutdown, customer accounts moved to BBVA USA, allowing them to continue using banking services through BBVA’s platform.
What is a Simple logo?
The logo is easy to recognize. It features the name “Simple” on the right side in a clean, modern font. On the left, a complex geometric shape resembles a mandala. This shape is intricate and symmetrical, with interlocking lines and patterns.
The logo is light blue, conveying calm and trust. The clean font and detailed geometric design make the logo stand out and easily recognizable.
The geometric shape symbolizes the brand’s innovative approach to banking. It suggests harmony and balance, reflecting the brand’s goal of helping users manage their finances smoothly.
When was Simple founded?
Simple was founded in 2009. The idea came from Josh Reich, who was frustrated with hidden fees, unnecessary products, long holds, and complicated banking conversations. He emailed his friend Shamir Karkal and asked why banking had to be so complicated.
This question led to the creation of a new bank designed to simplify the banking experience. Josh and Shamir aimed to eliminate common frustrations with traditional banks. They wanted a user-friendly and transparent banking service that prioritized customer needs. Their goal was to offer straightforward services without hidden fees or unnecessary products.
The company’s mission was to make banking easier and more accessible. To change the banking industry, they focused on innovation and customer experience. The bank quickly gained popularity for its clear, straightforward approach, attracting users tired of traditional banking’s complexity.