Fintech: Nickel draws on banque-tabac model

After turning French banking upside down, Compte Nickel is taking its tech-savvy approach to financial inclusion abroad. Insiders say its barebones account service will spread further and keep its dynamism under BNP Paribas ownership. But can a bank for outsiders with a physical network also be the fintech champion of Europe’s banking establishment?

Illustration: Jane Webster

At a time when the likes of N26 and Revolut are capturing millions of French customers, the growth of Compte Nickel – arguably France’s biggest neobank – is stepping up a gear. But Nickel is not your stereotypical London- or Berlin-based, consumer-facing fintech firm. It’s based in a slightly drab building in an unfashionable district just outside Paris’ inner ring road. Unlike its peers, it’s making more profit, rather than bigger losses, as it expands abroad.

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