Orange and mBank reach deal on mobile banking
Telecom Orange Polska and lender mBank signed a cooperation agreement to develop a retail mobile bank. mBank will provide banking services while Orange Polska will provide its clients. Telecom will also be responsible for the marketing of the platform which will also use Orange brand.
“Orange Polska will be remunerated for being an agent in acquisition of clients and for sales of bank products based on an agent commission fee, while sales of non-banking products will be subject to sharing of certain profits, defined in the agreement,” reads the official statement.
The project is expected to be launched in H2, 2014 and last until 2025, with the possibility of further extending it by additional three years. Furthermore, between 2020-2023, Orange will have a call option on organized part of assets of the enterprise operated within the branch.
