How to Build a Leading So-Called Neobank and Pursue Its Growth?

Abstract

Compte-Nickel, a brand of La Financière des Paiements Electroniques (FPE), is a FinTech founded in 2012 by Ryad Boulanouar and Hugues Le Bret. After an extremely promising start of operations in France in February 2014, the so-called neobank was acquired in 2017 by BNP Paribas, and its integration was successfully achieved thanks to good cooperation with the founders due to the preservation of its independence. Since the beginning, the key factor of its success has been an electronic terminal that allows to open a banking account in a few minutes, which is deployed in a network of partner tobacconists. In 2018, the FinTech became profitable conversely to most of its local competitors. The same year its name was shortened to Nickel, and in accordance with initial plans, development in Europe is being prepared. In December 2020, Nickel opens its doors in Spain. Will the policy of internationalization in Europe undertaken by the parent company BNP Paribas be as successful as in France?