Orange is working on a plan to launch a mobile-only bank in France in as little as twelve months as part of its quest to tap diverse revenue streams. The telecoms group announced that it is holding exclusive talks with Groupama that could lead to it acquiring a 65% stake in the insurance firm's banking arm Groupama Banque. Such a deal would provide Orange with an existing infrastructure on which to base its banking offer, including
an online channel and network of high street branches, that would complement Orange's own distribution network, brand and customer base. The company said it plans to launch Orange Bank in France at the start of 2017, followed by other European markets at a later date, company suggested Spain and Belgium as possible candidates. The bank will provide all standard banking services, in addition to savings, loans and insurance.