Orange Bank has finally launched in France with the telco offering a welcome gift of €120 to lure existing customers.

The service is offering basic current and savings accounts initially, with the likes of personal loans and mortgages set to follow.

The operator said existing broadband or mobile customers could trigger a welcome gift of €120 by joining the bank and using its services three times within the first month. It is also offering €80 to new customers.

After France, Orange plans to roll out the service to other countries in Europe.

The company hopes to attract two million customers to the mobile-based bank over the next 10 years.

Orange Bank was set to launch in July but quality and reliability issues meant a delay until today.

Orange Group CEO Stéphane Richard said: "With Orange Bank, this is an important new chapter in our history: Orange is now also a bank.

“A 100 percent mobile-based bank that is dedicated to providing an incomparable user experience.

“A bank that combines the best innovations available on the market today into a single offer.

“A bank that will listen to its customers and constantly enrich its offer and its features to meet their expectations.

“In short, a bank with the customer at its heart.

“I am particularly pleased that our customers can discover and benefit from it today."

Read more: Orange CMO keen to get credit on the menu at new bank in search for customers

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