Following its launch two years ago, Orange Bank now boasts more than 500,000 customers, with 20,000 new customers signing up every month for its services.
Apart from the volumes, the success is down to added value: ¼ of customers are acquired through loans, a major difference with other online banks, and ¾ through bank accounts which enjoy a high level of activity as 54% of these customers carry out an average of more than one transaction per week. An average of 10% of accounts are now being opened with the Visa Premium card.
In October, Orange Bank launched the financing of mobile devices and other purchases in Orange stores. Orange Bank has also just signed a partnership with the real estate services platform Nexity, to propose a home loans offer. Lastly, Google Pay will soon be available for customers with Android phones.
Outside France, Orange Bank is present in Spain and in the very near future it will open up its digital banking offering to the public with a bank account, a MasterCard card, Apple Pay and innovative functionalities for sharing with family and friends.
In Romania, Orange launched a debit card offer in early 2019 which is currently winning over 7,000 new customers every month. In Africa, the Group has obtained a banking licence from the Central Bank of West African States, which should enable it to roll out a savings and loans offer in 2020.
Paul de Leusse, CEO, Orange Bank
The first 2 years of Orange Bank's existence have confirmed that we have the right strategy: make digital banking widely available, offer our customers functionalities that encourage their activity and fully associate Orange Bank with its partners Orange and Groupama.
