After Crédit du Nord, it's now Crédit Agricole's turn to make its move with the launch of the Blank application. Designed by startup studio La Fabrique by CA, Blank is designed to boost the bank's growth and establish itself in an already crowded market. Zoom in on the banking group's new startup.
A mobile bank specially designed for the self-employed
On June 9, 2020, the Crédit Agricole Group announced the upcoming launch of its neobank for professionals called Blank. The service was born within the Fabrique by CA, a Fintech startup studio, a mix between an investment fund and daring entrepreneurs, backed by a major bank.
The green bank is thus following in the footsteps of the Société Générale subsidiary, which in December 2019 unveiled the Prismea app, designed for entrepreneurs, the professions, craftsmen, VSEs and SMEs. However, the two banks are not the only ones on the market with this offering.
What services does Blank offer?
Crédit Agricole's new neobank offers three different packages: a "basic" package at 7 euros ex. VAT per month, a "classic" package starting at 9 euros ex. VAT per month, and a "premium" package at 19 euros ex. VAT per month. Depending on the package you choose, you can benefit from a business bank account, a support service with tools such as invoice and quotation generation, bank account aggregation, original business insurance such as double the manufacturer's warranty on business equipment, or income guarantees in the event of hospitalization.
Blank has set itself apart from other neobanks on one point: the provision of ongoing human support. Indeed, customers can contact an advisor by e-mail or telephone to obtain legal, tax or social information, as well as to access documentary resources relating to their professional activity.
Launch scheduled for late 2020
The Blank app has been available in beta version, without commitment, since July. In a press release issued on June 9, the bank states that from the last quarter of 2020, a full service will be offered to traditional freelancers and freelancers. "The launch of this neo-bank is a concrete expression of the innovative strategy of creating platforms for banking and non-banking services announced by Crédit Agricole in its Medium-Term Plan 2022," the bank adds. It remains to be seen whether the neo-bank will succeed in attracting self-employed workers, who already have a wide choice on the market.