Sunday, 16 December 2018

Orange faces challenges as its bank opens for business

By Mary Lennighan, Total Telecom
Thursday 02 November 17

Banking analysts warn that French operator will not find it easy to become a bank, while telco analyst points out that competition from the banks in its home market will be fierce

Orange on Thursday opened its long-awaited Orange Bank in France, but the hard work is just beginning for the telco, according to finance experts. "Being a bank is actually tough," said Arnaud Burger, managing director, global co-head of TMT finance at Societe Generale, earlier this week. Telecoms operators have launched successful mobile banking services in emerging markets, with Orange itself having a strong financial services offering in Africa, but that "doesn't mean it's going to work in Western Europe…

Orange on Thursday opened its long-awaited Orange Bank in France, but the hard work is just beginning for the telco, according to finance experts. "Being a bank is actually tough," said Arnaud Burger, managing director, global co-head of TMT finance at Societe Generale, earlier this week. Telecoms operators have launched successful mobile banking services in emerging markets, with Orange itself having a strong financial services offering in Africa, but that "doesn't mean it's going to work in Western Europe…

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