BNP Paribas Buying Online Banking Service

BNP Paribas
We have said it many times before that here at FintekNews we try to focus on the US fintech sector UNLESS it is going to be relevant here. Well it seems BNP Paribas (its French) Bank is buying an online retail bank to step up it’s digital banking sector. Could this be a trend to spread over to our shores? FintekNews says YES. Hmmmmm, gotta go and start nibbling at buying some online banking/lending “targets” listed here.
(Bill Taylor/CEO)

“BNP Paribas (BNPP.PA), France’s biggest bank by market capitalization, is to buy online retail banking service Financiere des Paiements Electroniques, as BNP Paribas steps up its investments in the digital banking sector.

Financiere des Paiements Electroniques provides the payments accounts for Compte Nickel, an online French retail banking service co-founded by former SocGen (SOGN.PA) communications executive Hugues Le Bret.

The financial terms of the deal were not disclosed by the companies…”

Source: Reuters