Stéphane Richard, CEO of Orange, is pleased with the launch of Orange Bank.
© AFP/ ERIC PIERMONT
Ten days after the launch of the Orange Bank, the new offer of the bank group’s mobile telecoms Orange, about 30 000 people have opened an account. This is what was stated Stéphane Richard, the boss of Orange, in issuing The Grand Jury” on RTL-LCI-Le Figaro. “Orange Bank is a great popular success. Since the day we opened this service, an average of 3,000 people per day came to open an account”, he said happily. “This is a good result, higher than anticipated”, he continued, saying that this performance “just shows that the product we offer meets expectations today by the French”.
This new bank provides its customers with the most services of a traditional bank, namely, an account and a credit card, an overdraft is authorized, any additional insurance free of charge as well as a booklet of savings paid. In addition, “from next year, we will progressively add new services”, to start from the very beginning 2018 for consumer credit, before proposing real estate loans as well as insurance products and savings, said the CEO of Orange. “The bank is like all the major sectors of the economy, it must accomplish its transformation to a digital (…) The traditional model with a lot of agencies, a lot of structures, is reviewed in some depth”, he estimated.
Orange Bank seeks 2 million customers in 2027
This launch represents the first foray in the field of banking in France, a telecom giant and is the first entry of a long-standing player of this size on the market. The goal is to reach 400 million euros in revenue in 2018 in the field of mobile financial services, in all markets. And Orange Bank aims to reach more than two million customers in France within 10 years. Scheduled for 6 July, the launch of Orange Bank had to be postponed to 2 November due to “the height of the standards and requirements set out by the group.
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