The banking subsidiary of French telecom group Orange made its first international foray by launching its services in Spain.
The move comes around two years after Orange Bank commenced operations in France.
In Spain, Orange Bank will offer a complete mobile based banking service. The offering will include savings account, cheque account and Mastercard debit card. It will offer 1% interest rate for deposits of up to €20,000.
The customers can also open a current account carrying a Spanish IBAN without paying registration charges.
Through the Orange Bank app, customers can carry out regular banking operations and track their expenses.
They can also make free SEPA transfers, pay bills, use Apple Pay and manage their debit card through the app.
Additionally, the app features chat functionality that will allow customers to seek assistance from banking agents.
The Orange Bank Spain will also offer credit services of up to €10,000, subject to certain customer assessments.
Orange Bank general director in Spain Narciso Perales said: “Banking is accelerating towards an online model, concentrated around access via mobiles, and Orange wants to play a leading role by providing a competitive, simple and accessible offer at any time and place.
“One of our differentiating values lies precisely in being a bank that does not come from the traditional banking space.
“Our hallmark as a leading telco enables us to be the most suited to design a mobile banking service for today’s highly mobile population.”
Earlier this month, Orange Bank crossed half a million customer base in France.