Orange Romania has announced its decision to transfer the retail business of Orange Money from Romania to Alpha Bank Romania. Orange said this move is in alignment with Orange Romania's growth strategy, which centres on offering sustainable connectivity services and integrated digital solutions. This realignment is fully in line with the Orange Group's global strategy "Lead the Future."
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Orange Money's Digital Impact
According to Orange, Orange Money, introduced to the Romanian market in 2016, has become an alternative to traditional banking services. It provided customers with a complete digital experience, including essential financial operations such as debit and credit card issuance, fund transfers, and payments.
According to the statement, the transaction involves the transfer of the local Orange Money digital ecosystem (Romania), including its customer base, product portfolio, partners, suppliers, and the team responsible for managing mobile financial operations, to Alpha Bank Romania.
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Seamless Transition to Alpha Bank
Existing Orange Money customers will continue to have access to the products and services as usual through Alpha Bank Romania, with no disruptions or changes to their accustomed products and services.
"We are excited to benefit from the strengths of Orange Money Romania and excited about the opportunity to build an ecosystem of digital solutions for our customers. The strategic thinking, flexibility and long-term vision of Alpha Bank Romania are thus complemented with an infusion of agility and expertise in the field of top digital financial services," said Alpha Bank Romania.
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By leveraging Orange Money Romania's strengths, Alpha Bank Romania aspires to construct an ecosystem of digital solutions. This transaction is limited to the Romanian market and will be completed after the fulfillment of some steps and regulatory approvals, Orange Romania said.
