French telecoms group Orange is planning to offer mobile banking in France by early next year, in partnership with a French bank, said the group’s CEO Stephane Richard.
Richard in an interview to French daily Le Figaro said: "Orange has the legitimacy to become a bank: it’s got a strong brand, 1,000 selling points and 27 million clients."
Richard said that the project would be managed by Laurent Paillassot, former general manager of LCL bank, who joined Orange in September 2014. He however, did not disclose the name of the banking partner.
The French telecoms giant already operates a bank in Poland, which caters to 100,000 customers.
The Poland banking unit, trading as Orange Finanse, was launched in October 2014 through a partnership between between Orange and Poland’s mBank.