Société Générale and Orange are seeking to sell their subsidiaries dedicated to professionals and VSEs, Shine and Anytime, according to Les Echos and L’informé. A vast reconfiguration of the French digital banking market is underway.
An app, an account, a card, a handful of digital services and, above all, low prices: there are a few, in recent years, who have attempted to transpose the promise of the neobank in the world of professionals : self-employed workers, liberal professions, SMEs…
Among them is Shine. Since June 2020, the French fintech has belonged to the Société Générale group. According to information published by The echoesthis last looking to resell it today. “The subsidiary (…), managed by its co-founder Nicolas Reboud and integrated into the group’s retail banking activities, however, no longer seems to fit into the plans of the new management,” writes the economic daily, which recalls that “the group is examining different avenues, without taboos, to restore its image on the stock market.” Among the other savings measures envisaged is the elimination of more than 500 positions in France.
Launched in February 2028, Shine claims 150,000 customers approximately, and remains behind Qonto, its main competitor (350,000 customers in France, Germany, Spain and Italy). Originally designed for the self-employed, Shine has gradually expanded its scope to VSEs and SMEs.
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Anytime also on sale
Société Générale is not the only one to put a digital subsidiary dedicated to professionals. This is also the case for Orange. According to The informed, the telecom operator is looking for a buyer for Anytime, another competitor to Shine, which it acquired in January 2021. From the same source, “(…) Anytime has already attracted expressions of interest. “The process is quite advanced and should be concluded this year,” even bets someone close to the matter. »
These two transfers are part of a general context of market reconfiguration French digital banking services. After ING, which left France in 2022, 2024 should see the definitive closure of Orange Bank, another Orange subsidiary, and the sale of Ma French Bank, the neobank of La Banque Postale.
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