Orange to launch online banking service next month

French telecom group Orange is set to launch its online banking service on 2 November 2017 as it looks to diversify its revenue streams.

Orange to launch online banking service next month

The launch of Orange Bank , the group’s mobile-only bank, was slated in July this year, but was postponed to further develop the test phase to meet the required standards.

The bank will offer a bank account, a debit card, overdraft protection and an interest-bearing savings account with additional offers, including credit and insurance services.

Online banking service was developed after Groupama Banque agreed to sell 65% of its stake to Orange.

“The commercial launch will take place on Nov. 2,” said a spokesman from the company.

Orange Bank aims to have more than two million customers in France alone and expects to breakeven in four to five years.