Home Business Simple online banker, once among Portland's most promising technology companies is closing

Simple online banker, once among Portland’s most promising technology companies is closing

Simple online banker, one of Portland’s largest technology companies for the past decade, stops as part of its mother Bank’s own sales process. discreet employees simply to close waiting Wednesday and told customers Thursday, call it a « strategic decision ». Simple tells customers that he will transfer their accounts to BBVA but will not set a calendar for the change.

in November, BBVA announced that he would sell his U. Company to the Financial Services group PNC for $11.6 billion. we are focused on the things that make the most sense for the future of the company, whether on an independent basis or potentially combined with the PNC, « BBVA said in a statement written Thursday. BBVA also closes two other financial technology services it owns, Azlo and Open Platform. founded in 2009, Simple moved from Brooklyn to Portland two years later, in the middle of a renaissance in the Oregon technology company.

It has been instantly among the city’s most important technology companies, promising a toll-free approach to mobile, environmentally friendly, and technology-friendly online banking.

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Big teams count. Simple has been one of the largest technology employers in Portland. Its current workforce is 220, according to BBVA, 80% of them in the northeast. BBVA has not announced details on the dissolution of Simple or the fate of its Southeast Portland office, at the eastern end of Bridge. , “There’s always a lot of details to deal with as part of the entity’s wind,” BBVA said in Thursday’s statement.

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« As we work through regulatory approval and integration plans, our longer-term staff needs will become clearer. Simple embodied both the aspirations and disappointments of the Portland tech community in the years after the Great Recession. Capitalizing on mobile technology, social networks, and cloud computing, simple was among a new generation of Oregon hope startups that ended the silica Forest’s historic dependence on hardware manufacturing. others of this generation include Jive Software, Urban Airship (now Airship), Elementary techniques, puppet, Jama software, Janrain software, and Act-on software.

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They collectively attracted hundreds of millions of dollars in venture capital and hired thousands of people. all suffered their own backhand, however, and none turned into a really big company. Some still work-puppet says he hopes to make public this year-while other sold to larger technology companies that have retained or expanded their sites.

no big new technology company is appeared in Oregon since the 1990s, however, and the elders disappear regularly. The $8 billion sales of Flir Systems, based in Wilsonville, announced Monday, leaves only two publicly traded technology companies in Oregon’s dedicated customer service. Simple and a commitment to help its customers save money, rather than spend it, The distinguished one of the largest, moreover, establish banks and get them a dedicated suite among customers. online, there was a disappointment of some of these customers on Thursday, and financial technology officials.

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