Orange Bank launch delayed

Orange Bank launch delayed

French telco Orange has delayed the launch of its mobile-only bank from next week until the end of the summer.

Chief executive Stephane Richard revealed the delay in a magazine interview, with a spokesman confirming that testing with Orange staffers is being extended.

The new bank stems from Orange's acquisition of a 65% stake in Groupama Banque last year. Customers will be able to subscribe directly through the mobile app, via the website or in one of Orange’s 140 accredited stores.

Featuring current and saving accounts, contactless mobile payments and P2P payments from the outset, the unit has set itself an ultimate goal of attracting two million customers in France and EUR400 million in revenues by end-2018.

The 100% mobile bank also comes equipped with an AI-based virtual assistant, primed to answer customer queries and act as the first point of contact for users. The IBM Watson-powered AI agent will direct customers to a team of 100 human staff for more complex queries.

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