I'm confused. If BankSimple isn't a bank (it's not, right?), then why does it have "bank" in its name and issue statements like "how we're building a better ban

I'm confused. If BankSimple isn't a bank (it's not, right?), then why does it have "bank" in its name and issue statements like "how we're building a better bank?" Be a bank or be something better that isn't a bank, but you can't have your cake and eat it too.