FI/CO & Simple Finance

Dear Experts,

I have a basic queries about SAP's new product Simple Finance :

1) Is Simple Finance will replace FI/CO ?

2) Simple Finance is just an add on for FI/CO ?

3) Is Hardware architecture of Simple Finance is on top of FI/CO ?

4) Is Simple Finance is high-speed data fetching i.e HANA software/ERP ?

Please share your understanding on some of above doubts.

Thanks in advance.

Regards,

Rajkumar