Study finds consumers are losing interest in digital-only banks

Banking sector continues to evolve as digital-only banks are losing appeal globally — RFi Group — “While consumers showed substantial interests in digital-only banks in previous studies, global appetite for digital-only providers fell from 74% in H1 last year to 63% in H2, and appetite for digital-only main bank has also dropped from 50% to 44%… The findings suggest that traditional banks which continue to ‘up their game’ in engaging consumers digitally will likely be the ones to benefit in the near future.”


Paytm CEO sets out plans to become the world’s largest digital bank

Alibaba-backed Paytm aims to become world’s largest digital bank — Bloomberg — “Paytm Payments Bank aims to create the world’s largest digital bank with 500m accounts, envisioning an online financial services provider of everything from wealth management to credit cards and stock market trading… The bank grew out of Paytm’s digital wallet, which amassed over a hundred million customers after India took high-denomination bills — or nearly 90% of the value of cash — out of circulation last November.”


Mobile-only Orange Bank goes live in France

Orange is now also a bank — Orange — “Orange is launching its new banking offer in mainland France today. This 100% mobile-based offer is provided by Orange Bank and will be the only French bank to offer for free a service that provides real-time balances, mobile payment, innovative uses and a virtual adviser that is available 24 hours a day, seven days a week.”


UK challenger bank unveils open banking marketplace

Starling Bank’s Marketplace goes live — Starling Bank — “The Starling Marketplace is a brand new concept in banking whereby products from other fintech providers — and in the future lifestyle products — can sit within an easily browsed ecosystem all from within the app. These partners integrate with Starling Bank using their Open Banking and PSD2 compliant APIs… Starling is the first bank to have fully open, PSD2-ready APIs that allow collaboration between fintech companies.”


What's New in Payments

Orange reports on the opportunities and challenges in mobile-only banking

Orange's Marc Rennard

“When we look at the future of the banking and payments ecosystem, it is clear that operators will continue to play a prominent part in the space for many years to come as they evolve from their traditional business to new non-core areas, as we have done,” the deputy CEO of mobile financial services at Orange explains in an in-depth article on mobile-only banks that is now available to download from the NFC World Knowledge Centre... More



What's New in Payments

What’s New in Payments 2: Special report sets out the latest thinking on the future of payments — free of charge

What's New in Payments, Volume Two

Payments experts from the European Banking Authority, Yandex, Vodafone, Orange, Dejamobile and Wirecard are among eight contributors to What’s New in Payments: Volume Two, a 76-page special report on the future of payments which is now available to download free of charge from the NFC World Knowledge Centre... More


Orange to launch mobile-only bank with NFC payments and AI

Orange Bank

Mobile network operator Orange is to launch a mobile-only bank in France in July this year that will offer customers NFC mobile payments, P2P mobile transfers using SMS and an artificial intelligence-based virtual assistant that will eventually be able to complete tasks including making transfers and putting funds in savings. More