Launched in September, BforBank offers savings, life insurance, mutual funds and e-brokerage to the French mass affluent market, claiming to be the first true online private bank.

The site provides tools and information to help users make investment decisions and "become their own private bankers" says Credit Agricole. Within three months of launching the unit had signed up 15000 clients and claimed 800 million euros in assets in its books.

Vincent Chatard, COO, BforBank, says: "We aim to meet the demands and expectations of an increasingly exacting, financially literate and technology savvy consumer population through a content rich, interactive user experience. To date, the banking sector has been poor at giving customers this kind of user experience and we aim to break the mould. T24 is a truly 24x7 system, which is absolutely essential because in internet banking, the bank never stops."