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Banque Casino Sees Beyond Casino Skills, Partners with FinTechs

Banque Casino reached the 2 million customers milestone. Considering this maturity and dazzling growth of FinTech companies, they now intend to partner with these new entrants to expand their range of products and services, while enjoying neo-banking players' popularity and distribution network.

Banque Casino traditionally focuses on payment facilities and instalments. A year ago, their “Coup de pouce” instant credit offer was launched in partnership with Cdiscount. This loan can be subscribed by Casino cardholders or customers of their e-commerce site with no payment default. It is issued in 48 hours, for amounts up to €2,500 to be paid back in four instalments. So far, 100,000 loans have been granted.

Beyond just Cdiscount, instalments amount to more than one billion euros in annual flows at Banque Casino, and have been adopted by roughly two-third of their customers.

Banque Casino aims for diversification through including new consumerism habits (rentals, for instance), and reaching out for additional partners, other than their existing links with Casino group entities. They are considering new financial players, featuring these services on their platforms, as growth levers.

Comments – Building on new finance industry players

Banque Casino sees beyond the group’s limits to boost their offers and distribution partnerships. They already announced several agreements as they aimed for different sectors. For instance, “Cdiscount Location” for long-term rentals was rolled out (phones, home appliances, TVs, etc.), and a borrowers’ insurance service with Utwin Assurances, too.

They now take another step through relying on FinTechs who might see fit to propose instalments (as is the case for N26 with Younited Credit).

Yet another possible development plan could rely on proposing online credit offers via comparison websites, for instance. This marginal segment for the bank (250 million euros in 2017) has, however, grown significantly (+75% year-over-year).