Telecoms giant Orange launches its own bank in industry first

프랑스 1위 통신사 ‘오랑주’ 은행사업 출범…업계 처음 French telecoms giant Orange is launching its own bank on Thursday,… making it the first telecoms company to do so. It’s aiming to take advantage of its large client base to win a…

Telecoms giant Orange launches its own bank in industry first

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프랑스 1위 통신사 ‘오랑주’ 은행사업 출범…업계 처음
French telecoms giant Orange is launching its own bank on Thursday,… making it the first telecoms company to do so.
It’s aiming to take advantage of its large client base to win a quarter of France’s online banking market.
Park Ji-won has more.
Orange is aiming to win 25 percent of France’s online banking market in the next ten years by taking advantage of the rising use of smartphones for banking activities and offering better technology than established lenders.
The company has 21 million mobile clients, and the firm’s CEO says 25-thousand customers have already expressed interest ahead of the launch.

(French)
“When you see the explosion of mobile use in France and the world, you wonder why not add finance services to mobile phone functions? Especially as your mobile is becoming a way to pay for things.(…)”

This is the first attempt by a telecom company in a major developed market to launch its own bank.

(French)
“You can open your account on your phone, or go to one of our 144 stores which will provide the product, and then once the account is opened, you will get a card and you will be able to use your phone as a means of payment and make the most of all our group’s advantages.”

According to the European Central Bank, nearly eight-hundred million online banking payments were made last year in France alone, up from less than six-hundred million in 2014,… signaling that the market is still ripe for growth.
Park Ji-won, Arirang News.

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