It is a change in continuity that is taking shape at the helm of Orange Bank, the mobile bank of the telecommunications operator Orange. Stéphane Vallois, his current deputy general manager for almost 4 years, takes over from Paul de Leusse as chief executive from 1 October 2022. The bank is in a difficult situation and is supported by Orange. In 2021, the bank saw its capital increase by € 297 million to cover losses and finance new bank offers.
Paul de Leusse, former CEO, leaves the Orange group
Stéphane Vallois is responsible for the development of Orange Bank as part of the future strategic plan. Paul de Leusse will leave the Orange group. These changes come in the wake of the arrival in April 2022 of the new CEO of the Orange group, Christel Heydemann, replacing Stéphane Richard. Paul de Leusse’s record is acclaimed. ” It has allowed Orange Bank to evolve towards a value strategy and to develop internationally “ indicates the group .. ” He has makes Orange Bank’s mobile app one of the best on the market adds Arancio.Orange Bank announces nearly 2 million customers in Europe. Orange Bank Africa, launched in Ivory Coast in 2020, now has 800,000 customers. On the trajectory of the new CEO, Stéphane Vallois first earned a master’s degree in applied mathematics from Dauphine (1991-1995) before graduating from ESSEC (1996-1998) and a former student of the “London School of Economics and Political Science”. In 1998 he began working as a strategic consultant with Bain & Company to found his real estate services company for private investors in 2007. He then joined Crédit Agricole in 2009 and then became Deputy CEO of Crédit Agricole Payment Services in May 2016.
Stéphane Vallois joined Orange Bank from Crédit Agricole’s payment services. He joined Orange Bank when two months earlier, in October 2018, the Board of Directors of Orange Bank ratified the appointment of Paul de Leusse, replacing André Coisne, as Chief Executive Officer of Orange Bank in addition to his position of Deputy CEO of Orange. responsible for mobile financial services for the Orange group.
A loss of 157 million euros in 2021
Orange Bank announces an operating loss of -157 million euros in the financial year 2021. The loss was greater in 2020, reaching -175 million. No dividends were paid in 2020, 2019 and 2018. The Net Bank Margin – equal to revenues – was equal to 93.6 million euros in 2021, an increase of + 34% compared to 2020. In 2021 the number of bank account openings decreased almost 30% compared to forecasts. Orange Bank has assets of € 3.9 billion in 2021.In 2021 Orange Bank started the launch of the “One Bank” project, which consists in the implementation of a pan-European organization and a single IT platform, which provides for the updating of the Spanish IT platform and the migration of the French IT platform to the last one. This change should allow Orange Bank to have a single and simplified operating model in Europe, common tools, aligned processes, a single product range and an identical customer experience across countries.
In 2021, the Orange group acquired 21.7% of Groupama in Orange Bank, maintaining its commercial relations. Groupama remains a commercial partner of Orange Bank, extending until 2028 the exclusivity granted to daily banking and consumer credit offered by Groupama to its customers.
During the year, Orange Bank increased its capital by € 297 million to cover its losses and finance new bank offers.
Two capital increases carried out in 2021
In detail, Orange Bank carried out two capital increases. On 25 January 2021 Orange Bank carried out a capital increase of 69 million euros subscribed by the Compagnie Financière d’Orange Bank, in accordance with the decisions of the General Assembly of 27 November 2020. Subsequently, on 7 October 2021, there is was a share capital increase of 228 million euros, fully subscribed by Compagnie Financière d’Orange Bank, in accordance with the decisions of the General Assembly of 4 October 2021.
As of December 31, 2021, Orange Bank employs around 700 people in France. There have been a significant number of departures, nearly 100, which have only been partially replaced. In 2021 there was the recruitment of experts in data, marketing and banking skills. In Spain, the branch’s workforce is 104 people.
Orange Bank offers a 5 minute loan with Younited Credit
On September 5th Orange Bank launched the Express Loan, a new 100% digital loan, which focuses on simplicity and speed. It is an evolution of the personal loan. The express loan is open to Orange Bank customers and non-customers. It is not necessary to open an Orange Bank account to subscribe to the Express Loan.
The loan is designed with Younited Credit, a credit technology fintech. In 3 clicks, credit applicants can synchronize their bank information held in another establishment. This sharing promises an immediate and personalized response with, where appropriate, counter-proposals in line with the applicant’s situation. The challenge is risk control.
All subscription procedures can be performed via the Orange Bank mobile application. They are also possible via the website. On average, it only takes 5 minutes, from the start to the electronic signature of the contract, if the customer has opted for the bank aggregation. The underwriting of the borrower’s insurance is also simplified and enriched.
For customers, it is a journey with 0 card, 0 postal delays, from their mobile, tablet or computer. The funding ranges from € 1,000 to € 75,000 and is used to finance projects such as the purchase of a car or motorbike (new or used), camper, electric or hybrid vehicle. To finance decorations, renovations, etc. or to finance travel, studies, a wedding …
The loan can be taken out alone or in pairs. The co-borrower can also take out borrower insurance. Subsequently, the customer will have the possibility from his mobile application to follow the evolution of his repayments month by month, to download his financing plan and to carry out the management acts on his own: modification of his direct debit date; upward adjustment of the amount of your monthly payment; temporary suspension of its terms. The Express Loan benefits from an launch rate of 2.99% Fixed APR, up to 48 months for loans over € 6,000.
” The integration of state-of-the-art technological solutions in our credit offers will lead us to offer concrete benefits to our customers. says Stéphane Vallois, deputy chief executive of Orange Bank. “ This credit is accessible to the greatest number of people, with high acceptance rates, smoother and faster routes. In addition, the bank’s advisors and experts will now have new tools to provide answers even better suited to the needs of our clients. he finishes.