BBVA

BBVA’s acquisition of Simple, the first neobank, was closely watched as a possible model for others in the industry. But the shutdown last week of Simple has again stirred a debate about whether upstarts and traditional players can ever fit together.

The decision to shutter the digital bank comes just weeks after BBVA USA announced it was selling itself to PNC Financial Services Group for $11.6 billion.

The Pittsburgh company is using its BlackRock windfall to execute a familiar script: buy an underperforming bank, cut costs and strengthen ties with commercial clients.

The deal would rank among the biggest bank combinations since the financial crisis, creating a coast-to-coast franchise with about $563 billion of assets and branch presence in 29 of the nation’s 30 largest markets.

The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website.

BBVA and U.S. Bank are fine-tuning the search functions on their sites and apps to improve navigation, sales and customer retention.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

Five banks, including BBVA USA and BMO Harris Bank, and one credit union will begin offering Google-branded bank accounts in 2021.