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The banks one hundred percent digital, a validated model by the crisis

The crisis has accelerated the digitization of banking services. A boon to the pioneers in the industry, and consumers. Food, transport, education... If the cr

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The banks one hundred percent digital, a validated model by the crisis

The crisis has accelerated the digitization of banking services. A boon to the pioneers in the industry, and consumers.

Food, transport, education... If the crisis has been a huge shock to all sectors, it has been a revolution for the banks. In a few days, BNP Paribas and its competitors have had to switch all their services to digital, the management of accounts to loans (consumer, real estate) to adapt to confinement. A real upheaval of usage, that the sector had not known for years. While France and came back to life gradually, some actors, such as banks and online "néobanques", " rub their hands. And for good reason : the crisis has more than validated their model. "The containment has been an accelerator of trends", welcomes Benoît Grisoni, managing director of Boursorama.

Backed by major groups for the first or offline for seconds, banks "digital" have made the choice, upon creation, to be completely dematerialised. In other words, without any physical branch. Everything is done remotely through the site or application. The human relationship comes by default, in case of need. The main interest of this organisation is of course the price. Whether Boursorama (a subsidiary of Société générale), Hello Bank (a subsidiary of BNP Paribas), or Fortuneo (a subsidiary of Arkéa), online banks have costs that are lower than their big sisters. "Our fixed costs are lower, so the customer benefits," stresses Benoît Grisoni, who puts forward a management fee of 10 euros per year, when the average of the conventional banks is around 200 euros...

"Only their services are paid"

it is exactly The same on the side of the "néobanques", as Revolut or N26, that are not yet, strictly speaking, "banks", but the fintech specialized in the payment. These seedlings are thriving, too, thanks to their costs particularly low. "There is no fixed cost, only their services are paid," explains Julien Maldonato, a partner at Deloitte.

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These new players do not play, however, not only on the price. They are also relying on their services. Side of online banking, the palette is the same as that of a traditional establishment. Boursorama offers exactly the same services as the competition, securities accounts to mortgages to insurance-life", specified Benoît Grisoni.

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unlike néobanques - of which the offer is intended as a complement to a main account for the client - which offer a range of more exotic products. "They have gone in search of the dead angles of the banking sector", explains Julien Maldonato. The british Revolut allows, for example, to pay from abroad free of charge or to buy cryptomonnaies, such as bitcoin, via its application. Benefits which attract millions of customers. Especially the younger people.

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