The fully digital Orange Bank Africa goes live. It will offer clients „a range of simple savings and credit services available at all times via mobile phone”.

27 iulie 2020

From mobile money to mobile banking, Orange takes the next step in West Africa. Twelve years after the launch of the Orange Money transfer and payment service, „we’re now opening the 100% mobile Orange Bank Africa”, the company said.

Orange and NSIA launch Orange Bank Africa to provide greater access to financial services and improve the financial inclusion of people living in West Africa.


Orange, a major telecoms provider in Africa and the Middle East, and NSIA, a leader of bancassurance, have announced the launch of Orange Bank Africa in Abidjan and Côte d’Ivoire. Orange Bank Africa will expand into Senegal, Mali and Burkina Faso.

Orange Bank Africa will offer clients „a range of simple savings and credit services available at all times via mobile phone,” according to the press release.

Orange Bank Africa will address the needs of a large part of the population, often excluded from the world of conventional banking, allowing them to borrow and save small amounts that are nonetheless essential for their everyday lives. When it launches, Orange Bank Africa via its Orange Money service will offer a range of savings and micro credit services allowing customers to borrow as little as 5,000 CFA francs instantly using their mobile phone.

Orange’s mobile financial services strategy in Africa aims to offer solutions accessible to the broadest population regardless of their income or where they live. Orange Bank Africa intends „to become a leader in ensuring financial inclusion in West Africa”, the company said.

Patrick Roussel, Executive VP MEA Mobile Financial Services:

The few so-called mobile banking offers are generally apps developed by large traditional banks. We’re developing a different model since we are neither a neo-bank looking for new customers nor a traditional bank with a network of branches. We’re expanded our existing range of 100% digital and mobile services.

Right from the first subscription, all steps can be done via a smartphone or USSD. Everything is automated and it only takes a few seconds to open an Orange Bank Africa account. Data from Orange Money allows us to check customers are eligible, for example that they have enough regular income so that their level of risk is acceptable for the bank.  

Of course, people who aren’t Orange Money customers can also apply through the Orange Bank Africa application, or by going into the head office branch if they live in Abidjan.

Orange Chairman and CEO, Stéphane Richard, explains,
New technology is needed to strengthen financial inclusion and support economic development, as proven by mobile money over the past few years. Banking is a new area of business for Orange in Africa. It falls squarely in line with our strategy as a multi-service operator and our desire to drive the digital transformation forward in Africa. Based on our association with NSIA, also a leader on the market in Africa, we provide easy access to bank services for as many people as possible, with simple and essential services that benefit all our clients.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?