Orange Launches Its Own Bank
02 Novembre 2017 - 12:27PM
Dow Jones News
By Euan Conley
French telecommunications company Orange (ORA.FR) said on
Thursday that it has launched its own bank as part of its efforts
to diversify into mobile financial services.
Known as Orange Bank, the new company will offer French
customers a range of mobile banking services, including the option
to pay for goods with their cellphone or send money by text.
Customers will also be able to access the features of a traditional
bank, such as a current account, bank card, savings account as well
as overdraft lending.
The bank said it was targeting two million customers within 10
years and that it was aiming to reach 400 million euros ($465.9
million) in revenues in 2018.
Orange, which first announced the bank in April, will face
competition from Altice NV (ATC.AE) after the Amsterdam-based
telecom operator said in July that it plans to launch its own
online bank by early 2019.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
November 02, 2017 07:12 ET (11:12 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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