Orange Bank partners Younited to underpin consumer credit boost

Orange Bank has signed a partnership agreement with consumer lending fintech Younited to boost its credit options.

The bank says the new deal will “strengthen essential links” in its consumer credit value chain, including subscription, attribution, management and collection.

Paul de Leusse, CEO of Orange Bank, and Geoffroy Guigou, CEO of Younited

Its new “state-of-the-art” platform will enable Orange Bank to propose its personal loan offers to a wider clientele.

The bank claims applications will be “faster and simplified”, while customers can also synchronise their banking information across multiple accounts.

“Consumer credit, along with day-to-day banking, is at the heart of Orange Bank’s development model,” says Paul de Leusse, Orange Bank CEO.

“This is why we wanted to partner with Younited, a fintech leader in this business.”

De Lausse also mentions his firm’s January acquisition of Anytime, and that it shows the bank’s willingness in “forging links with fintechs in other business lines”.

Founded in late 2017 in partnership with Groupama, Orange Bank is a financial services offshoot of the multinational telecoms firm.

Despite its activity in the market, it was revealed in March the telco is seeking to offload Orange Bank after the division’s sustained losses.

The bank made a loss of €195 million in 2020 and has racked up €643 million in losses since it began operations.

Reuters reported earlier this year Orange is looking for a new investor in the bank, as opposed to selling its entire stake.

None of this appears to have phased Younited. Geoffroy Guigou, co-founder and CEO, says his firm is “proud to work with such an ambitious and dynamic player as Orange Bank”.

He adds: “This partnership confirms our ability to support financial institutions of all sizes and in multiple countries with our white label or co-branded offers.”

Related: Orange seeks buyer for loss-making banking unit

Source: https://www.fintechfutures.com/2021/06/orange-bank-partners-younited-to-underpin-consumer-credit-boost/