Alpha Bank Romania announced that it has signed a business transfer agreement with Orange Money Romania to acquire the consumer ecosystem built by the company that encompasses its customer portfolio, top-of-the-market digital assets (mobile application), credit card portfolio and employees.
With this acquisition, Alpha Bank Romania continues to move forward with its strategic plan to further strengthen its customer value proposition and market presence. The transaction will further enhance Alpha Bank Romania’s proven banking expertise and innovation tradition with the fully digital approach and agile environment of Orange Money Romania, thus allowing it to become one of the key players in the Romanian digital banking space. In addition, the bank’s skilled and experienced team will be complemented by the pool of highly talented Orange Money Romania employees to create one of the best digital services-oriented teams in the market. Onboarding the local Orange Money customer base will allow Alpha Bank Romania to strengthen its market position by significantly expanding its customer portfolio. Orange Money customers will continue to benefit from existing products and services, while they will also gain access to the full range of banking products and services that Alpha Bank Romania provides on the local market. At the same time, the transaction will allow the bank to offer customers a stronger digital proposition by incorporating Orange Money’s digital assets and evolving it into a state-of-the-art mobile banking application. The transaction completion is subject to receiving all regulatory approvals and fulfilling other customary closing conditions.
