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back to article Telco Orange to open bank next month

Frenchie telco Orange is reinventing itself as a bank next month, with plans to offset lacklustre revenue by branching out into the rest of Europe and possibly the UK. Speaking at Mobile World Congress, Benedicte Javelot, head of group strategy at Orange, said: "We will be launching Orange Bank in few weeks, which will be …

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  1. Mage Silver badge

    Bank?

    Can't be worse than HSBC, RBS etc?

    Better than trying to bring back WAP.

    Banking is about computers, security and communications. Which is why it makes no sense for banks to outsource IT.

    With closures of rural banks and post Offices, doesn't seem stupid?

    It depends how well they do it.

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    1. Anonymous Coward
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      Anonymous Coward

      Re: Bank?

      It depends how well they do it.

      If they stick to minimalist consumer only deposit taking and lending, there's not much can go wrong. Ask Northern Rock...oh, wait! Dunfermline Building Society...no, no, erm, Co-op, ooh, maybe not. Anyway, moving on....

      Orange are a lard arse telecoms incumbent. If they're struggling to make enough money (in their eyes, evidently) from their core business, without even a handful of competitors, why would they be so stupid as to think that they can make money in a risky, complex, heavily regulated world of banking, when low interest rates mean low spreads and low returns? I suppose they could mis-sell products, and hope to get away with it, which seems to be the business model of all the other banks.

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  2. summers

    Bank to open, but Email to close. RiP

    Well Orange are opening a bank, but also today they annouced that they are closing their email accounts. This means I will loose my freeserve email address, that I've had for almost 20 years. The plug on email will be pulled on 31 May.

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  3. Triggerfish

    However, he said it would be difficult for Orange to return to the UK.

    It's probably a tough one, as they don’t have a relationship with customers any more.

    I've dealt with Orange, considering previous service this is actually in their favour.

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    1. Dan 55 Silver badge
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      Re: However, he said it would be difficult for Orange to return to the UK.

      "If it is a success, why not, we will be happy to have you as a customer."

      But will the customers be happy to have France Telecom as a hostage taker?

      0 0 Reply
  4. HarryBl

    Renault do it (RCI Bank).

    0 0 Reply
  5. Andy Non Silver badge
    Meh

    The future is grim, the future is Orange.

    Having suffered at the hands of Orange in France with their money grabbing attitude, institutional incompetence and antagonistic attitude towards customers, I'll never have anything to do with that company every again. If they started selling fruit on the market I still wouldn't trust them.

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