BNP Paribas acquires neo bank Compte-Nickel

BNP Paribas is set to acquire a 95% stake in neo-banking startup Compte-Nickel’s parent company Financière des Paiements Électroniques.

Compte-Nickel allows users to quickly open ‘no-frills’ bank accounts regardless of income or personal wealth factors.

Users receive a RIB bank account number enabling them to deposit salaries as well as online banking capabilities and an international MasterCard within 10 minutes.

BNP Paribas says the deal will expand its banking portfolio beyond its branch-based retail operations and mobile Hello bank! offering.

Compte-Nickel counts more than 540,000 accounts opened over the past three years and says the acquisition will help it reach its target of two million by 2020.

The French banking giant’s deputy COO commented: “By making this investment along French Buralistes, BNP Paribas is further extending its partnership range, both in terms of service and customer.

“The Compte-Nickel offering will remain distinct from, and complementary to, the products and services provided by the BNP Paribas branch network and Hello bank!

“Like all the startups with which we have already long-term cooperation, Compte-Nickel will remain independent from the rest of the Group.

“Meanwhile we will be making every effort to help Compte-Nickel improve the customer experience and foster its growth, while remaining true to its concept.”

The amount paid by BNP Paribas will pay is undisclosed.

Copyright © 2017 FINTECH GLOBAL

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