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Orange Bank Aims for the Mortgage Industry with Nexity


  • During a press conference, Orange Bank reported recent results and announced they intended to enter the mortgage industry in partnership with a property developer, Nexity.
  • Offer:
    • Launch scheduled for December,
    • Two physical distribution networks, via Nexity and Groupama,
    • Decisionning process: 72 hours.
  • Regarding the results they disclosed, Orange Bank reported losses (€115M over the first 9 months of 2019) but says their customer acquisition strategy is making progress: 20,000 new customers each month.
  • Latest figures:
    • 500,000 customers, incl. 360,000 current account holders and 135,000 credit subscribers (incl. 10,600 personal loans),
    • 21,000 upmarket payment cards (customers who signed up for their ),
    • 5,000 credit lines for financing mobile phones (since launch in October),
    • 3,000 car loans sold via Groupama.


  • Careful launch. This launched should be completed gradually, even if looking into their mortgage industry is a strategic endeavour for this bank. And they don’t yet plan on selling this product alone.
  • Decreasing customer acquisition costs. A key challenge accounting for this new product launch. Orange Bank assesses their acquisition cost at €180 per customer. They don't expect to break even before 2023 or 2024.
  • Highlighting their difference via Groupama. Despite what may seem like a weakness to most observers (as their Information System gets older), Orange Bank intends to boost their offer. They bet on two brick-and-mortar networks as it remains their main acquisition channel (for two-thirds of their customers). Groupama already enables Orange to sell car loans car insurance offers. In 2020, they will be adding an insurance offer for mobile phones (theft or breakage) designed by their shareholder.


  • Beyond profit-related issues, Orange Bank is also working on their European implantation: their launch in Spain is pending. And, in 2020, they will be further aiming for Africa.
  • Orange Bank Africa has been granted a banking licence and should launch in H2 2020 in Côte d’Ivoire, before aiming for Senegal, Mali and Burkina Faso. They will mostly be offering savings and microcredit services.
  • Orange Money claims 42 million customers in Africa (including 16 million active users).