Focus on the different banking players

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

What are the different types of banks in France? 

According to Monetary and Financial Code, we call a bank an establishment which collection of savings and deposits and that manages different payment methods. 

It is possible to categorize the types of banks according to three classes. 

Classic banks also called traditional  

Traditional banks, also called classic, are physical banking establishments. 

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

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

Within traditional banks, you will find three categories : 

• THE national banks whose prices are the same throughout the country
• THE cooperative or mutual banks whose prices vary from one fund to another. Unlike national banks, the shares are held by members and not by shareholders. 
• THE private banks whose prices are intended for a privileged clientele. 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 the same services as traditional establishments. 

The only big difference is that online banks do not have no physical agencies. Interactions with customers are done without physical support and take place through emails, by telephone or via 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 making these savings, they can offer more attractive prices ! 

Mobile banks or neobanks 

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

With reduced services, neobanks offer exclusively means of payment in order to make money withdrawals and pay in store or online. Users also have a mobile app which is the only interface to manage their accounts. As the offers offered are more restricted, these banks are very inexpensive, even free ! 

What are the main banking establishments 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 Banque Postale. 

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

It's' Prudential Control and Resolution Authority (ACPR) who closely monitors these companies.

What are banking authorities?

Banking authoritarians are entities that manage and control bank stocks.

Their main role is to regulate and of oversee the banking sector in order to ensure its stability, security and proper functioning. 

These bodies also ensure that banks comply with current regulations, particularly in terms of risk management, consumer protection and anti-money laundering. 

In addition, they grant approvals for banking establishments, 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, of Industry and Employment intervenes on economic and strategic aspects.
• L'Financial Markets Authority (AMF) establishes and controls the rules of the banking market. She manages regulations and operations. 
• L'Prudential Supervisory Authority (ACP) is a decision-maker in the approval of financial institutions. 
• There Bank of France guarantees monetary and financial stability as well as the security of means of payment. It is part of the European System of Central Banks. 
• There European Central Bank (ECB) is the central financial authority for European Union countries that use the euro. It maintains price stability. 

Why does Finovox offer its services to banking players? 

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

• Firstly, Finovox offers a consistency analysis to determine whether the information provided is consistent.
• Then, a visual analysis is carried out.
• Finally, we set up a computer analysis to detect signs of automatic generation or electronic tampering!

So, with Finovox, you analyze all types of documents, invoices, proof of address, purchase orders or even delivery notes. The goal ? Drastically reduce the document fraud suffered by your company!

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