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SmartyPig announces new banking partner BBVA Compass

This morning, SmartyPig, a social banking startup headquartered in West Des Moines, announced they are moving to a new banking partner, BBVA Compass. SmartyPig had previously held their deposits with West Des Moines-based West Bank.

According to a press release, BBVA Compass was chosen because they could scale with SmartyPig’s growth as well as assist SmartyPig in international expansion through BBVA Group. BBVA Group, based in Spain, is a global financial service organization and the parent to BBVA Compass. SmartyPig is currently available in the U.S. and Australia, where they have licensed the operation to the banking partner ANZ.

The full press release is available at SmartyPig’s website:

BBVA Compass and SmartyPig announce strategic alliance to help consumers reach their financial goals

15th Largest U.S. Commercial Bank and Social Money Leader join forces to offer customers the most for their money

Birmingham, AL and Des Moines, IA – BBVA Compass and SmartyPig today announced a strategic alliance where BBVA Compass will serve as depository institution to SmartyPig’s customers in the United States and work with SmartyPig […]

Read the full press release

Additionally, Mike Ferrari, SmartyPig’s co-founder, blogged about the announcement this morning:

BBVA Compass And SmartyPig Announce Strategic Alliance

This morning we announced in a press release our new strategic alliance with BBVA Compass, the 15th largest bank in the United States and the American arm of one of the biggest banks in the world, BBVA. Understanding that solid footing […]

Read the full post

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