Mobile only bank in 2017...unclear why you should communicate your plans a year ahead
Orange is seeking to target a new generation of consumers with its mobile bank plans French telecoms firm Orange is to create a new bank called Orange Bank together with French insurer Groupama, in a move the two firms say will target a new generation of consumers using mobile phone technology. Discussions are at an early stage, but the basic plan is to launch Orange Bank as a mobile bank in 2017 in France with standard banking services and savings, loans and insurance. Other European markets such as Spain and Belgium will be added later. The service will use Orange’s network of stores as well as Groupama’s own branches and those of its subsidiary Gan. The plan’s objective is to reach 400 million euros of revenues in financial services in 2018.