Orange signed up 50,000 users to its mobile bank in the first two months of operation, group CEO Stephane Richard (pictured) said.
Speaking at a FinTech conference in Paris, Richard said the company could play a significant role in retail banking, adding it would become a “leading bank, especially for daily life and families.”
Orange launched its banking service in France during November 2017 – four months later than originally planned following a number of issues in its trial phase. The company aims to have 2 million users on the platform by 2027: it added 30,000 within ten days of launch.
In a statement announcing the launch, the company said financial services offered “significant growth prospects” – both from its retail bank aimed at Europe and mobile money brand for developing markets.
During 2018, Orange aims to achieve revenue of €400 million from its financial services arms.
In January, Orange deputy CEO Marc Rennard revealed its Africa-focused mobile money service, Orange Money, processed €26 billion worth of transactions across its 17 markets during 2017.