Spanish bank BBVA is acquiring Portland, Oregon-based Simple, a provider of online and mobile-only banking services, according to an announcement from the bank. BBVA said that Simple has created a new standard in digital banking and that the acquisition is part of its strategy to lead the technology-driven change transforming the financial services industry.

The acquisition, carried out through BBVA's U.S. subsidiary BBVA Compass Bancshares, values Simple at $117 million.

Since its launch at the end of 2012, Simple has acquired 100,000 customers, BBVA said. The bank offers a Simple Visa Card that is tied to an FDIC-insured account with "no surprise fees," iOS and Android apps, and saving tools.

Simple will continue to operate with the same brand, under the leadership of its founders, CEO Joshua Reich and CFO Shamir Karkal, according to the announcement.

BBVA said it will help Simple develop new products and services and expand its reach into new markets beyond the U.S.

"Joining with BBVA gives Simple the resources and global footprint we need to see our vision writ large," Reich said in the announcement. "BBVA believes in our vision and the course we have set to transform the industry."

Forrester Research senior analyst Denée Carrington told Mobile Payments Today that banks such as Simple are true disrupters, because they can set up mobile-only banking services for less cost than traditional banks.

By acquiring Simple, BBVA is embracing the disruptive element. BBVA said it is introducing new products and services through both in-house developments and investments in startups.

Other "disruptive" investments undertaken through BBVA's corporate venture arm, BBVA Ventures, include SumUp, a Berlin-headquartered startup that enables mobile point-of-sale payments, and San Mateo, California-based Freemonee, which analyzes customer transactional data to create relevant offers from retailers.