Focus on the various banking players

According to Statista, the amount of bank fraud in France in 2020 was 525 million euros. Since there are many banking players, fraud spreads quickly. But who are the different banking players? Simply put, how is the banking system divided? We take stock with you.

What are the different types of banks in France?

According to the Monetary and financial code, we call a bank an institution that collecting savings and deposits And who manages various payment methods.

It is possible to categorize bank types into three classes.

Classic banks, also called traditional banks

Traditional banks, also referred to as classical, are physical banking institutions.

They offer a wide range of banking services, including various accounts, cards and financial products such as savings, stock exchange and insurance.

The plus of these traditional banks? They have physical advisers to answer your questions!

Within traditional banks, you will find three categories :

• Les national banks whose rates are the same throughout the country
• Les cooperative or mutual banks whose rates vary from one case to another. Unlike national banks, shares are owned by members and not by shareholders.
• Les private banks whose rates are intended for a privileged clientele. The clients of these banks often use these services for wealth management or legal and tax advice.

Online banks

Online banks are also called banks because they offer same services as traditional establishments.

The only big difference is that online banks don't have no physical agencies. Interactions with customers take place without material support and take place through emails, by phone, or through social media platforms.

The advantage of these banks is that they do not pay staff or rent for their branches. They simply have an online After-Sales Service (After-Sales Service). By realizing these savings, they can offer more attractive rates !

👀 Good to know!
These online banks are often attached to a traditional bank. They experienced a major outbreak in the 2000s and have now been purchased.

Mobile banks or neobanks

More recently, neobanks have emerged. They are part of online banks but their services are, most of the time, available on the phone.

With reduced services, neobanks offer exclusively means of payment in order to withdraw money and pay in store or online. Users also have a Mobile app which is the only interface for managing their accounts. Since the offers offered are more restricted, these banks are very inexpensive, See Free !

What are the main banking institutions in France?

Today in France, 6 major banking groups stand out: BNP Paribas, the BPCE Group, the Crédit Agricole Group, the Crédit Mutuel-CIC Group, Société Générale and La Banque Postale.

These networks largely dominate the national market, managing more than 80% of the 73 million current accounts, and are widely present internationally.

It is the Prudential Control and Resolution Authority (ACPR) who is closely monitoring these businesses.

What do we call banking authorities?

Banking authorities are entities that Manage and Control Bank shares.

Their main role is regulate And of supervising The banking sector in order to ensure its stability, safety and proper functioning.

These bodies also ensure that banks comply with current regulations, especially in terms of risk management, consumer protection and the fight against money laundering.

In addition, they grant approvals to banking institutions, check their solvency and intervene In case of financial difficulties to ensure the protection of depositors and the stability of the financial system as a whole.

Among these entities, we find:

• The Ministry of Economy, Industry and Employment intervenes on economic and strategic aspects.
• THEFinancial Market Authority (AMF) establishes and controls the rules of the banking market. She manages regulations and operations.
• THEPrudential Supervisory Authority (ACP) is a decision-maker in the approval of financial institutions.
• La Bank of France guarantees monetary and financial stability as well as the security of payment methods. It is part of the European System of Central Banks.
• La European Central Bank (ECB) is the central financial authority of European Union countries that use the euro. It maintains price stability.

Why does Finovox offer its services to banking players?

Today, with inflation, fraudsters are more numerous and the types of fraud are more varied. To deal with this growing threat, Finovox offers to help you verify the documents provided by your customers.

• First of all, Finovox offers a coherence analysis in order to determine whether the information provided is consistent.
• Then, a visual analysis is carried out.
• Finally, we are setting up a computer analysis to detect signs of automatic generation or electronic falsification!

Thus, with Finovox, you analyze all types of documents, invoices, proof of address, order forms or delivery notes. The aim? Drastically reduce the document fraud suffered by your society!

Are you interested in the Finovox solution? Do not hesitate to contact our experts, they will be happy to answer your questions and offer you a demonstration.

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