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THE BROAD VIEW
Orange is the new bank?
French giant's move marks the first attempt by a telecoms company to launch a standalone bank in a major developed market
"We are targeting two million clients in 10 years. That would represent 25 per cent of the (online banking) market ... I hope we will be the market leader in several years." Andre Coisne, chief executive of Orange Bank
PHOTO: REUTERS
Paris
TELECOMS giant Orange launched its own bank on Thursday, aiming to win 25 per cent of France's online banking market by capitalising on the rising use of smartphones to steal share from established lenders with inferior technology.
The launch is part of a push by the French
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