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Orange Bank chooses Younited to accelerate consumer credit business

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The bank has teamed up with the flagship French fintech which has experienced exponential growth in Europe.

Orange Bank intends to extend and market its personal loan and assigned credit offers to new customers through its partnership with Younited (picture shows Paul de Leusse, CEO of Orange Bank on the left and Geoffroy Guigou, CEO of Younited).

It is expected that almost €500 million in consumer credit will be generated in France in 2021.

Enriching

With Younited, a Next 40 fintech, Orange Bank intends to strengthen links in the bank's consumer credit value chain in the areas of subscription, attribution, management and collection.

Orange Bank’s customer journey and distribution channels will be “enriched” and remain available across all sales channels – via the web, the Orange Bank app, plus Orange stores and, for Groupama, through the web and Groupama agencies.

A new platform will enable Orange Bank to offer personal loans to a wider clientele and to Orange customers beyond the offer already available in Orange stores.

Application procedures will be faster and simplified, and customers will also benefit from being able to synchronise their banking information held in other institutions.

This will speed up the processing of their request (as required in the PSD2) and provide an immediate and personalized response.

Operational efficiency

The partnership will also improve operations between Orange Bank’s teams, back offices, analysts and customer relations centres as they will benefit from a more efficient tool for faster and more fluid handling of customer requests.

By combining the best of Orange Bank and Younited, it is expected that by early 2022, Orange Bank will have one of the best performing front-to-back credit value chains on the market, and one that will be deployable in other countries in Europe.
 
“Consumer credit, along with day-to-day banking, is at the heart of Orange Bank's development model. This is why we wanted to partner with Younited, a fintech leader in this business.

“After the acquisition of Anytime and following this partnership with Younited, we intend to continue forging links with fintechs in other business lines,” says Paul de Leusse, CEO of Orange Bank.