Moven is removin' 'bank' from its moniker
Don't call 'em Movenbank. It's just Moven now.
The virtual bank has decided that the "bank" part of its name doesn't comport with its desire to be a revolutionary new approach to financial services. So it's dropping it.
"We know that our original name, Movenbank, did not fully capture our revolutionary vision for the future of banking," the company said in a blog post. "In fact, it may have even confused. It forced our customers to reference what banking is instead of what it will and should, be."
Movenbank, er, Moven, is looking not only to create a virtual bank, one not tied to any branch or location, but also to provide users with financial and credit management tools as well as payment products — all accessible through mobile devices.
The company is looking to roll out new services for the U.S. in the coming months, including shipment of NFC stickers that customers can attach to their mobile devices to make contactless payments.
Read more about mobile banking.