Mobile network operator Orange is set to open the first mobile-only Orange Bank this year in France, as well as Spain and Belgium following this initial launch.
The mobile-only bank will give customers the chance to make NFC mobile payments, P2P mobile transfers via SMS and get help with basic banking tasks from an artificial intelligence virtual assistant. With the opening of Orange Bank, this bank will be the only one on the market to offer two completely free payment payment methods for all customers. Those who sign up with Orange Bank will be given a bank account, a customizable debit card and more features that will appeal to the Millennial generation and Generation Z segments.
As Stéphane Richard, chairman and CEO of Orange says: "From now on, Orange is also a bank."