Last week, BBVA announced that it is buying Simple for $117 million. It’s easy to think of reasons why this acquisition appeals to BBVA. It’s not for assets and deposits. Yes, the 100,000 tech-savvy early adopters who’ve signed up for Simple are very attractive, but they don’t justify the purchase price, either. And, it wasn’t solely for the brand. Banks and other financial institutions worry – rightly or not – that more nimble technology companies, with their superior mobile and …
