Orange Bank is celebrating its second birthday by sharing details of its business growth.

The banking subsidiary of French mobile telecom Orange has now signed up over 500,000 customers. Moreover, the bank says that it continues to attract new customers at the rate of over 20,000 per month.

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Notably, around 25% of new customers are being attracted to the bank by the availability of its loan products.

The rate of customer acquisition is up by more than 40% compared with 2018.

In addition, around 10% of accounts are now opened with a Visa Premium card.

Holders of the Visa Premium card benefit from a 5% discount on purchases in Orange stores.

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Orange Bank had around 320,000 customers at the end of June.

Upgraded app, Apple Store ranking rises

The bank says that 54% of customers perform more than one operation per week.

Orange says that customers particularly appreciate the instant balance facility. The service also offers mobile payment and the ability to recharge the account using a bank card. In addition, over 75 % of iOS customers have activated their Apple Pay mobile payment service.

Upgrades to the Orange Bank app results in an increase in its score on the Apple Store to 4.5/5.

In October, Orange Bank launched the financing of mobile devices and other purchases in Orange stores. Orange Bank has also signed a partnership with the real estate services platform Nexity offering retail mortgages.

Nexity intends to become a source of new business for Orange Bank.  The first applications are expected to be processed by the end of 2019.

In addition, Google Pay will soon be available for customers with Android phones.

Orange continues to benefit from its tie up with Groupama and its branch network. Car insurance and car loan products are offered to Orange Bank customers via the Groupama branch network.