By French telco Orange Group launched a new banking offer in mainland France. This 100% mobile-based offer dubbed Orange Bank will offer free real-time balances, mobile payment and a virtual adviser that is available 24-hours a day, 7-days a week.
The telco says the Orange Bank is 100% mobile and all operations and interactions between the customer and the bank can be carried out using a mobile phone. Customers of Orange Bank can pay either with their bank card or their mobile (2); Send money by SMS (3); Temporarily deactivate their card, and reactivate it again if the card is retrieved (4); Check their bank balance in real time (5); And, by interacting with the virtual advisor, get answers to requests 24/7.
For customers who prefer some form of human contact, Orange Bank also relies on the strength of Orange France’s network of stores with its 890 specially trained employees in 140 authorized stores in France.
Even if the virtual advisor is able to answer a large majority of questions, customers can also contact one of the advisors of Orange Bank’s customer relations centers.
From the outset, Orange Bank offers all the attributes of a traditional bank: a current account, a bank card, an authorized overdraft, a free complementary insurance package, a savings account remunerated at 1% interest.
Anyone can open an Orange Bank account, regardless of revenues, and customers will benefit from a completely free service for the vast majority of daily banking services.
The launch of the Orange Bank offering illustrates Orange’s ambition to diversify its services, particularly in mobile financial services. The Group also has recognized expertise in financial services with Orange Money (34 million customers in the Africa and Middle East region) and Orange Cash (500,000 users in France). This expertise was reinforced by the acquisition of a majority stake in Groupama Banque in 2016, which became Orange Bank in 2017.
The Group’s objective is to reach 400 million euros in revenues in 2018 in the mobile financial services sector, across all of its markets. Orange Bank’s ambition is to reach more than 2 million customers in France within 10 years.
According to Stéphane Richard, the Chairman and CEO of Orange: “With Orange Bank, this is an important new chapter in our history: Orange is now also a bank. A 100% mobile-based bank that is dedicated to providing an incomparable user experience. A bank that combines the best innovations available on the market today into a single offer.”
The Group is yet to announce when the platform will be launched into its other markets like Africa and Middle East.
Source:Techmoran.com
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