mBank and Orange cancel cooperation deal on banking

WSE-listed bank mBank and telecom operator Orange Polska have decided to finish their 4-year long deal for banking services. Cooperation will end on December 31, 2018. Under the agreement signed back in 2018, mBank offered its financial services to Orange Polska clients under the Orange Finanse brand. Orange will continue to offer banking products to its clients “based on our own unique assets and strategy,” Orange Polska said in a market filing. So far, Orange Finanse had some 430k clients. They’ll be transferred to mBank platform. So far, the client base represented lender’s 6.8 percent of retail customers.