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Online & Mobile Banking

Orange Bank to launch in France in 2017

Monday 10 October 2016 | 12:35 PM CET

After acquiring Groupama Banque, Orange, a telecommunications company, has announced plans to roll out mobile banking services in France in 2017 via Orange Bank. 

This move come is the light regulatory authorities’ approval in France and Europe of Orange’s acquisition of Groupama in January 2016, when Orange purchased 65 % of the capital of the banking arm of insurance company. Orange aims to convert two million mobile subscribers, that represent 7% of its French base, to financial services. The new entity will be part of the company’s customer experience and mobile banking function. In the future, the telecommunications company intends to roll out mobile banking services in Spain and Belgium as well.

Customers will be able to subscribe directly through the mobile app, via the website or in one of Orange’s 140 accredited stores. The offer will include current accounts, savings accounts, credit and payments from launch. It will also be distributed across Groupama Group’s networks from the second half of 2017.

By 2018, Orange plans to generate EUR 400 million of revenues at Group level from financial services.

In 2015, the company launched in Poland in partnership with Commerzbank banking service called Finanse. The project has yielded 250,000 customers since December 2015. 

More: Link
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