Movenbank, the mobile-only banking startup that is expected to launch in mid-February, has removed “bank” from its name — now it’s just called Moven.
“The reality is that Americans have lost faith in a number institutions, including the large national banks,” the company said in a blog post. “We know that our original name, Movenbank, did not fully capture our revolutionary vision for the future of banking. That is why from now on we are just Moven.”
“Basically, it’s how customers are referring to us,” added Brett King, founder and CEO of Moven.
Simple, another startup aiming to revolutionize banking, was the result of a similar name change (formerly called BankSimple).