The Group is continuing to diversify into mobile financial services, particularly through the expansion of Orange Bank into new territories.
Since its launch in France in 2017, Orange Bank has continued to attract new customers – with 1.1 million on board today – and expand its business model, for example through the creation of the Premium Pack in 2020, which offers children aged 10 and older a first bank account and payment card, supervised by their parents.
Extension into consumer loans
In June 2021, Orange Bank signed a partnership with Younited, a Next 40 fintech, to accelerate its development in consumer credit. Orange Bank will use a new platform to offer personal loans to a wider clientele including Orange customers via a shorter and easier application process. Collaborating with Younited offers Orange Bank’s teams the latest high-performance tools to support and process customer requests more quickly.
In addition, Orange Bank marked its entry into new territories with a successful launch in Spain in 2019. It reached a new landmark in July 2020 with the launch of Orange Bank Africa in Côte d'Ivoire, which will help to strengthen financial inclusion in West Africa while capitalizing on the success of Orange Money to date.
Orange Money, an essential service in Africa
First launched in 2008 in Côte d'Ivoire, Orange Money is now available in 17 countries in Africa and the Middle East and serves more than 50 million customers including 20 million active monthly users.
By the end of 2020, 4 billion transactions, amounting to €62 billion, had already been completed via Orange Money.