Orange talks-up bank progress - Mobile World Live

Orange talks-up bank progress

01 FEB 2018

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.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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