Paris-based BNP Paribas is working with telecom service provider Orange to provide its 21.8 million customers with personal financing solutions, according to a June 26 release.

The “tailored financing” will provide customers with loans up to 3,000 euros ($3,200) to buy mobile phones, according to the release. 

“If you look at the core activities where we can cross-sell like there is no tomorrow, the revenues are up,” Chief Financial Officer Lars Machenil said during BNP’s second-quarter earnings call on July 25. “The implementation of the partnership with Orange in Spain and France” will help the bank boost loan originations. 

Rabobank, Zafin join forces for digital corporate banking 

Utrecht, Netherlands-based Rabobank has selected fintech service provider Zafin to provide digital pricing, billing and invoicing services to its corporate clients, according to a July 23 release. 

Vancouver, British Columbia-based Zafin saw its banking clients invest “heavily in their digital interfaces, like mobile apps, but now they’re asking how they can truly innovate the products they offer to their customers to create a differentiated banking experience,” a Zafin spokesperson told Bank Automation News. 

“Our API framework supports real-time data exchanges, which is important for modern banking operations,” the spokesperson said. “Zafin’s cloud-based platforms enhance security, reduce time-to-market and enable banks to integrate Zafin’s product with their existing ecosystem seamlessly.” 

HSBC, Navy Federal, Scotiabank and Wells Fargo are some of Zafin’s customers, the spokesperson said. 

Lloyds extends partnership with Visa for debit, credit card issuance 

London-based Lloyds Bank is extending its partnership with payments behemoth Visa as its primary card issuer, according to a June 24 Lloyds release. 

The bank aims to add card features for its retail and corporate clients to help them better manage financial goals, according to the release. 

Visa will also help Lloyds migrate more than 10 million bank cards on other card networks to Visa network by the end of 2026, along with continuing service to the 30 million Lloyds cards in circulation, the release stated. 

HSBC completes acquisition of Citi’s wealth management business in China 

HSBC has completed the $3.6 billion acquisition of Citi’s wealth management business in China, which it announced last year, according to a June 11 HSBC release. 

The acquisition gives HSBC $19 billion under management in mainland China along with 300 former Citi employees, the release stated. 

“Wealth had another very good quarter, underlying that our investment is continuing to drive improved results,” Georges Elhedery, chief financial officer at HSBC, said during the bank’s Q2 earnings call today.  

The bank reported a profit of $3.2 billion in Q2 from its wealth and personal banking, up 13% year over year, Elhedery said. 

Citi’s portfolio in China complements the bank’s growing set of wealth businesses and its ambition to be the leading international wealth manager for mass affluent and high-net-worth individuals in mainland China, the bank wrote in its earnings report. 

Editor’s Note: All figures converted to USD.

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