Orange will also become a bank

The mobile operator Orange will create Bank in partnership with Groupama. The ambition is to create an online bank, available mostly on mobile.

Groupama and Orange to be entered into exclusive negotiations to create a new entity. The idea for the incumbent is to set up a banking, online and mobile. To achieve this, Orange confirms statement it intends to acquire 65% of Groupama Banque.

The program of services offered, Orange Bank promises to perform the daily activities of banks (withdrawal, deposit ...) but also a section reserved for savings, credit, as well as insurance. The launch of the platform is scheduled for early 2017 in France. Eventually, other countries such as Spain or Belgium should be able to use this new financial service.

In the past, Orange has already deployed the services of this type with Orange Money in Africa (money transfer) or Orange Finanse Poland. Therefore the operator will be placed in direct competition with Fortuneo Boursorama and other Hello Bank. Its aim is to offer a completely paperless tool with lower fees in some conventional banks.

Orange logo
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Edited on 01/05/2016 at 9:51