BNP Paribas acquired Compte Nickel in France

in fintech •  8 years ago 

BNP Paribas acquired Compte Nickel in France for about 200 million euros.
With 540 000 clients that BNP Paribas was not really addressing (low-end), it is a cost per client a little bit lower than 400 euros. When BBVA bought Simple in 2014, the cost per client was close to $1,000, so it looks like a good deal even if the profitability per client is much lower for the Compte Nickel (low-end market segment, low transaction fees in Europe).
But more interestingly, with 2500 PoS, it is a new distribution network with a cost of 80,000 euros per point of sale, about 10 times less than the cost of setting up a new banking branch.
Plus of course a technology and process that disrupt account opening.
So Compte Nickel for BNP Paribas = new market + new distribution market + new process and tool = seems a pretty good deal?

fintech bank bnpp
8 years ago by

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