Multiplay group Altice is set to join French market rival Orange in launching an online banking service across its Eurozone footprint, Reuters reported.
Altice – which operates communications companies around the world including SFR in France and Portuguese market leader Portugal Telecom – reportedly applied to the European Central Bank for a banking licence.
If granted, the company would be cleared to develop finance services across the Eurozone.
According to Reuters‘ sources, the service is likely to launch under the Alticebank name, fitting with the company’s new branding strategy to strengthen the Altice name globally.
The Netherlands-headquartered company owns communications assets across the continent, and beyond, following a period of sustained growth through acquisition.
A launch into France’s banking sector would see it compete directly with Orange, which pushed back plans to launch its challenger bank service following teething problems with during the testing stage.
Orange Bank was originally scheduled for launch on 6 July, after CEO Stephane Richard unveiled the service at the company’s ShowHello event in April.
Although its first launch is set for France, Orange delegate CEO Gervais Pellissier told Mobile World Live at the time the company’s wider strategy was to launch across its European footprint, starting with Belgium and Spain.