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The Warsaw Voice » Business » May 22, 2018
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Orange - mBank: cooperation close to an end?
May 22, 2018   
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Listed lender mBank and telco Orange will likely terminate their deal on joint financial services project for Orange clients still this year, with mBank supervisory board already approving termination and Orange reading its own bank, even though both firms deny any decisions have been made, Puls Biznesu found out from insiders.
mBank is particularly interested in termination, as project proved to be a disappointment: rather than 1 million clients assumed, it has only 440,000, and some of them making no transactions.
Orange would prefer to keep the project alive for some time, as it needs time to learn banking. Orange Polska may seek to build on experience of its French parent, which launched Orange Bank in autumn last year. Orange could use a white label banking platform, such as German solarisBank to reduce cost and avoid applying for a banking license. The product could be launched no sooner than within a year, possibly later.
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