Orange is The New Mobile Bank in France
Telecommunications operator Orange has launched its own bank across France, and has announced its subsequent launch in Spain and Belgium. The initiative is meant to capture 25% of France’s online banking market, according to Orange Bank CEO Andre Coisne. Currently customers will be able to (1) pay via mobile, (2) transfer money via SMS, (3) view account balance via the Orange app, (4) save money in a savings account, and – coming soon – (5) apply for a credit card.
Banking and Telecommunication Come Together
The mobile banking service also offers an interactive virtual adviser that answers customers’ questions 24/7 . Also, the company is adopting a “phygital” approach that is both physical and digital and which, at the launch of this offer, is drawing on:
- Almost 900 Orange advisors trained and certified IOBSP (Intermediary in Banking operations and Payment Services)
- 144 Orange stores with a new dedicated area for opening a bank account.
Banking and Telecommunication and Insurance Come Together
The bank is developed in partnership with Parisian insurer Groupama that enables Orange to leverage the distribution network of 3,700 Groupama and Gan agencies and their 7 million customers in France in 2016.
As it stands, Orange is starting with a customer base of 25,000 users that have expressed interest ahead of the launch.
PS. Yvan, Marina, Morgane, and Corinne have been hard at work for several months on this new initiative, here’s what they have to say: