Orange Bank chooses Younited to accelerate its consumer credit development
With nearly €500 million of consumer credit expected to be generated in France in 2021, Orange Bank is planning to extend and market its personal loan and assigned credit offers to new customers.
By choosing to work with Younited, a Next 40 fintech, Orange Bank is joining forces with a flagship French Tech flagship company which has experienced exponential growth in Europe in recent years. In particular, this growth reportedly comes from its expansion in five countries and the development of its partnership activity
An overhaul of the consumer credit business chain
This technological partnership is designed to strengthen essential links in the bank’s consumer credit value chain in the areas of subscription, attribution, management and collection. The customer journey and distribution channels, which will continue to benefit from the expertise of Orange Bank, will be enriched says Orange, and will remain available across all sales channels (via the web, the Orange Bank mobile application but also in Orange stores and, for Groupama, through the web and Groupama agencies).
A consumer loan that’s open to all… simpler, fast and personalised
This new platform will enable Orange Bank to propose its personal loan offer to a wider clientele and, in particular, to Orange customers beyond the assigned loan offer already offered in Orange stores.
Application procedures will reportedly be fast and simpler, and customers will also benefit from being able to synchronise their banking information held in other institutions. This will speed the processing of their request (as required in the PSD2) and provide an immediate and personalised response.
Optimisation and operational efficiency
By working with Younited, Orange Bank will be able to improve operations between Orange Bank teams, back offices, analysts and customer relations centres as they will benefit from a new, more efficient tool for fast and more fluid handling of customer requests. It is expected that by early 2022, Orange Bank will have one of the good 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. 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.
“We are proud to work with such an ambitious and dynamic player as Orange Bank. This partnership confirms our ability to support financial institutions of all sizes and in multiple countries with our white label or co-branded offers. In these complex and technology-intensive businesses, relying on an actor specialising in credit becomes essential to benefit from the latest innovations,” says, Geoffroy Guigou, co-founder and CEO of Younited.