Orange enters agreements with BNP Paribas

As per the information detailed in the press release, after entering into exclusive negotiations in June 2023, Orange and BNP Paribas concluded a referral agreement in France. BNP Paribas’ digital bank, Hello bank.!, intends to provide Orange Bank’s customers in France with an exclusive and simplified account-creation mechanism, merged with dedicated support, enabling them to access daily banking services and a complete range of solutions, including savings, loans, insurance, trading, and cashback.

Initially, Orange and BNP Paribas’ partnership was part of the former’s wider intention to progressively withdraw Orange Bank from the retail banking market in France and Spain. The project was set to be subject to several information and consultation procedures with employee representative bodies, with the process being conducted in full transparency.

Orange Bank and BNP Paribas Personal Finance, via its Cetelem brand, entered a commercial agreement that allows them to offer a continuity solution to the former’s customers in Spain. The two companies plan to collaborate on supporting customers throughout their transition during 2024 to Cetelem digital banking solutions. Additionally, users from France and Spain can continue to leverage their accounts and Orange Bank services until they receive a customised notification from Orange indicating the next steps. The two groups are currently working on a new credit solution for the financing of mobile devices.

According to Orange’s officials, the project contributes to the execution of the company’s strategic plan to improve its leadership in its core business. Orange Bank’s collaboration with BNP Paribas intends to allow the company to enhance the user journey for its customers with a tailored offer, with the support of the two groups. Representatives from BNP Paribas underlined their enthusiasm over concluding the agreements with Orange, one of the bank’s partners, with both groups sharing a commitment to customer service. Both companies aim to provide a simple and fluid transition for Orange Bank customers in France and Spain, who going forward, are set to benefit from all BNP Paribas Group services.

As an international banking group, BNP Paribas owns platforms and businesses in Europe, while having a deep presence in the Americas, and a fast-developing set-up in the Asia-Pacific region. In Europe, the group has four domestic markets, including Belgium, France, Italy, and Luxembourg. In addition to the current announcement, BNP Paribas entered several collaborations in recent months to advance its development strategy.

At the beginning of December 2023, Taulia expanded its global multi-funder network by integrating the Bank of China London Branch and BNP Paribas. The incorporation of the two global banks was set to add to Taulia’s network of funders available to its global clients, while also providing businesses with increased access to an expansive funding pool, delivering more choices, improved liquidity, and more availability of capital.

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