French banks stem flow of clients to fintech rivals survey shows [Reuters (UK)]
Orange (ORAN)
US:NYSE Investor Relations:
orange.com/en/investors/results-and-presentation
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Source: Reuters
French banks stem flow of clients to fintech rivals survey shows | Reuters Reuters Staff 2 Min Read PARIS, April 12 (Reuters) - French bank customers have become less inclined to switch to a financial technology firm over the past year, a Deloitte survey showed on Thursday, as lenders move to fend off new entrants. French banks such as BNP Paribas and Societe Generale, have sped up investments in so-called fintech, either by buying start-ups, known as “neobanks”, or by offering clients new payment methods or online options. German mobile bank N26, Orange Bank, provided by French telecoms giant Orange, or the aggregator app ‘Bankin’ have all threatened to steal market share from the incumbents. The Deloitte and Harris Interactive survey showed that only 22 percent of French bank customers would leave their core bank for a fintech, a drop of 4 percentage points over the year. “Banks have caught up a bit (with fintechs)...to do that they have relied on fintechs, either by buying them or
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