Mobile network operator Orange has announced plans to reach its 2018 target of generating €400m in financial services revenues by launching a new mobile banking service in France by 2017. Through a possible 100 percent stake in the Paris-based Groupama Banque, Orange intends to use the company's infrastructure and collaborate with its retail stores to create and promote the new “Orange Bank”, which will offer all standard banking services in addition to savings, loans and insurance services. Stéphane Richard, CEO of Orange, intends to ensure that the company's strong brand embodying key values such as security and reliability will anchor the loyalty of 28 million potential customers in France, followed at a later time by others in Spain or Belgium.
Mobile network operator Orange has announced plans to reach its 2018 target of generating €400m in financial services revenues by launching a new mobile banking service in France by 2017. Through a possible 65% stake in the Paris-based Groupama Banque, Orange intends to use the company's infrastructure and collaborate with its retail stores to create and promote the new “Orange Bank”, which will offer all standard banking services in addition to savings, loans and insurance services. Stéphane Richard, CEO of Orange, intends to ensure that the company's strong brand embodying key values such as security and reliability will anchor the loyalty of 28 million potential customers in France, followed at a later time by others in Spain or Belgium.