A neobank is a form of a direct bank that conducts all of its business activities online only and does not have any traditional physical branch networks. This type of financial institution is also known as an online financial institution, internet-only financial institution, virtual, or digital bank. In the United Kingdom, a number of fintech banking firms that came into existence in the years following the global financial crisis of 2007–2009 are collectively referred to as “challenger banks”. Customers have the option of gaining access to their services through the use of their personal computers or mobile devices.
Neobanks, in comparison to its more traditional competitors, offer a narrower selection of services to their customers. Neobanks, in contrast to incumbent banks, derive a significant proportion of their income primarily from the transaction fees collected from clients who make purchases using their debit cards. It is a neobank with headquarters in France that provides personal banking services, including checking accounts and debit cards, with the ability to handle all financial dealings through mobile applications for iOS and Android devices. At the moment, it is willing to work with French citizens to establish mobile banking accounts. On TrustPilot, it has a rating of 4.4 based on 1997 customer ratings.
Mobile banking
It is a subsidiary of the La Banque Postale group and operates exclusively through mobile banking. As a financial institution that is easily accessible, open to everyone, and free of resource requirements, they assert unequivocally the core values of proximity and straightforwardness that are at the foundation of both La Poste and La Banque Postale.
You can reach the customer service department of Ma Fren, which is located in Lille, by phone, through our chat service, or on any of our social networks.
The online financial institution has so far identified three customer profiles, each of which is distributed in a balanced way:
- Young people between the ages of 18 and 35.
- Adults who already have multiple bank accounts and who use them as a backup accounts.
- Customers whose incomes are on the lower end of the income spectrum.
75% of these 250,000 customers did not previously have an account with the La Banque Postale group before establishing a relationship with it. This was the case before they began doing business with the financial institution. They provide customers with the opportunity to open a bank account complete with an international payment card for a fee of two euros per month and to have access to a variety of mobile financial services, including SMS and mobile payments, online jackpots, and revolving credit.
Ma French bank neobank services
The offerings can be classified as being within the category of retail banking. Current accounts, debit cards, bank accounts, and consumer loans are just some of the goods that it makes available to its customers.
The outlets need to provide access to the products and services that are supplied by them. Instead of using indirect methods to deliver its solutions to consumers, it relies on direct channels, specifically its online banking platform and its mobile applications.
Deposit guarantee
Ma French Bank is a participant in the French government’s system for guaranteeing deposits. This deposit guarantee plan covers deposits of up to 100,000 EUR per bank and depositor, and it applies to all deposit accounts, regardless of whether they were made by natural persons or legal entities. It is a contributor to the FGDR, which stands for the Fonds de Garantie des Dépôts et de Résolution. It’s also a member of the FGDR.
BIC LBDIFRP1XXX
BIC LBDIFRP1XXX is the business identifier code, which is often referred to as the SWIFT code or the SWIFT BIC. SWIFT is the organization that is in charge of BIC registration. BICs have a variety of applications within the realm of finance, including but not limited to the processing of cross-border and SEPA payments, customer and counterparty databases, compliance documentation, and many more.
A BIC is made up of eight or eleven characters and includes the following information:
- A code for the financial institution (four characters).
- A code for a country (two characters).
- A geographic identifier (two characters).
- An optional code for the department (three characters).
- Comparable financial institutions to Ma French Bank.
Based on the country in which each institution was founded, Banks.eu was able to identify numerous banks that are comparable to Ma French Bank:
- The category of the bank.
- Concentration on business.
- Country from whence it originated.
- Total assets (market share).
