What Are Traditional Banks?
Traditional banks in France, such as BNP Paribas and Crédit Agricole, have been around for decades. They offer a broad range of services, including:
- Savings and Checking Accounts
- Loans and Mortgages
- Investment Services
- Credit Cards
These banks have physical branches, but they also provide online services for convenience.
What Are Fintechs?
Fintechs are newer, technology-driven companies. Fintechs focus on digital services accessed typically through mobile apps or websites. Key characteristics include:
- Digital-First Approach: Most Fintechs do not have physical branches.
- Focus Areas: Focus on specific areas like payments or personal finance.
- Innovation: Use of newest technologies such as AI and biometrics.
- Lower Fees: Typically reduced costs for services like international transfers.
What is Globex?
Globex is a French-based Fintech company offering different financial services. Globex is regulated by the ACPR Banque de France for money exchange, so clients can change their currencies at our Globex branches. Globex is an official agent of Western Union, so clients can send and receive money internationally at our Globex branches.
Unlike most Fintechs, Globex has physical branch locations in the south of France: Antibes, Nice (Ville), Nice (Riquier), Beausoleil & Menton. Globex offers money exchange and money transfer services in our physical branches. Globex also provides customer support and assistance for eGlobex clients at our physical branches.
The eGlobex App is a product of Globex, offering online accounts & cards for residents of the European Economic Area. As a Fintech, the eGlobex app focuses on improving the customer experience by facilitating the account creation process, simplifying money transfers, and providing different transfer & account loading options to meet all customer needs.
The Future of Finance in France
Fintechs are pushing traditional banks to innovate and offer more digital services. This competition benefits consumers by providing more choices, lower costs, and better services!
In France, the choice between fintechs and traditional banks depends on your needs. Fintechs tend to focus on optimising technologies and customer experience, while traditional banks provide a wide range of services and in-person support. At Globex, we aim to offer the best of both worlds by keeping our physical branches while also providing online services through our eGlobex app. This way, you can access a full range of services at our branches or manage your accounts and cards easily online with the eGlobex app.
