“The agreement will make it possible to offer ING customers the opportunity to become Boursorama customers,” summarizes the director of ING’s online banking in France Frédéric Niel.
Online banks ING France and Boursorama announced on Tuesday the signing of a partnership agreement which paves the way for a transfer of customer accounts from the first to the second, and includes the resumption of life insurance contracts.
This announcement comes less than a year following the launch of a “strategic review” by ING and then that in December of the withdrawal of its online banking activity in France, involving the loss of around 460 jobs.
The agreement “will make it possible to offer ING customers the opportunity to become Boursorama customers”, summarizes with AFP the director of ING’s online banking in France Frédéric Niel, the transfer being automatic only for products life insurance.
The call of the foot is done using a simplified process to carry out the three stages – opening of a Boursorama account, transfer of assets, closing of the ING France account -, encouraged by a dedicated team and proposals incentive business.
Existing home and consumer loans will continue to be managed by ING, with the assistance of an external team. The latter represent a few thousand customers and approximately 3 billion euros in assets.
Boursorama hopes to recover “at least half” of ING’s customers, its managing director Benoit Grisoni told AFP.
The total volume would now only be “over 500,000” following several operations via the closure of Orange Savings Accounts of customers who only hold this product at ING. This figure is far from the million customers on which ING communicated last year.
The Dutch bank has set itself the goal of closing all current accounts by the end of 2022.
“We have been very close competitors for a very long time”, underlines Mr. Grisoni, who also highlights the complementarity of the customer profiles of the two banks, that of ING being less young and better endowed with products and outstandings.
The transaction amount was not sent.
Boursorama claims a number 1 position in online banking in France with 3.3 million customers, including 800,000 acquired in 2021 alone.