In just under 30 years, BoursoBank has evolved into a major force in the French banking landscape. What’s behind this remarkable success story? CEO Benoît Grisoni, who has been with the company since its early days, sheds light on the key strategies and decisions that helped shape the digital-first bank into what it is today.
From Online Brokerage to Full-Service Digital Bank
Benoît Grisoni, a graduate in market finance and trading from ESLSCA, began his career at Fimatex in 1998. Just four years later, he became head of Boursorama Invest and joined the company’s executive committee. By 2016, he was promoted to Deputy CEO, before taking the reins as CEO in 2017. Under his leadership, BoursoBank has scaled new heights.
“Our journey unfolded in three major phases,” Grisoni explains. “In the first phase, from the late 1990s to 2006, we operated under the Fimatex brand, primarily focused on online brokerage.” That changed as the company grew, acquiring Selftrade and the Boursorama web portal. Even the dot-com bubble burst in 2001 couldn’t derail their momentum. The company started branching out into online savings, launching no-load life insurance policies in 2004 and offering mutual funds (OPC). However, the core clientele remained retail investors focused on the stock market.
A major turning point came in 2006 when BoursoBank acquired Caixa Bank’s French operations. “This gave us a full banking license, access to around 60 physical branches—which we gradually closed—and a robust banking IT system. That enabled us to pivot toward becoming a fully digital bank,” he notes.
The third phase began in 2016, when BoursoBank, with support from parent company Société Générale, made a strategic decision to prioritize customer acquisition over short-term profitability. Aggressive marketing, referral programs, and promotional offers followed. “We also significantly expanded our product range,” says Grisoni. “As a result, our customer base skyrocketed from 600,000 to 7.6 million in just a decade.”
A Younger, More Diverse Customer Base
Grisoni says BoursoBank’s clients have significantly changed over the years. “Finance, after health, is the top concern for many French people. Our clients are often looking to take control of their financial lives. And they’re getting younger,” he shares.
In 2015, the average customer was 42 years old. Today, it’s 35. In 2024 alone, BoursoBank attracted 1.5 million new clients, and added 458,000 more in the first quarter of 2025. Notably, half of these new customers are under the age of 25—mostly students or children of existing clients. The bank’s “Freedom” account for teenagers has been particularly successful and serves as a springboard to long-term customer retention.
“We’ve gone from serving primarily urban professionals to becoming a bank for everyone, across all of France,” Grisoni notes. Today, about 50% of clients use BoursoBank as their main bank, handling the majority of their financial transactions through it.
However, financial behaviors are shifting. “It’s not uncommon for young people to have multiple banking relationships—one bank for a mortgage, another for trading, and yet another for everyday savings,” he adds.
Popular Products and a Value-Driven Approach
Although interest in stock market investments has seen a strong rebound—with over 3 million transactions in the first quarter of 2025 alone—Grisoni emphasizes that BoursoBank’s core appeal lies in its banking products. “Accounts like Welcome, Ultim, and Metal are in high demand,” he says. “Our philosophy is simple: provide the most affordable bank account and card to increase customers’ purchasing power.”
BoursoBank has maintained its position as the least expensive daily bank in France for the past 17 years. In 2024, average annual banking fees were under €10—compared to €200–€250 elsewhere. This cost-efficiency extends to all offerings, including a recently launched ETF-based investment plan with an all-in fee of just 0.59%.
“Low fees matter, especially over time. A 2% difference in annual fees can lead to significantly higher returns over 30 years,” Grisoni explains. The bank also supports financial literacy efforts via the Boursorama portal, providing educational content to help customers better understand investing.
How BoursoBank Keeps Costs Down
What enables BoursoBank to maintain such low fees? “Traditional banks and wealth advisors have higher cost structures,” says Grisoni. “Our model relies on customer autonomy.”
To that end, the bank invests in online tools—web and mobile platforms, educational videos, webinars, budgeting tools, and simulators—that allow clients to manage their finances independently. From opening an account to applying for a mortgage, almost everything can be done online.
For support, a chatbot handles basic queries, while approximately 600 human advisors are available for more complex matters. “We have a dedicated mortgage team because real estate transactions often require coordination with notaries, insurers, and other banks,” he adds.
The more independent the customer, the more efficient BoursoBank can be. “That’s what allows us to keep services free or low-cost. Our internal operational model is what enables this pricing structure.”
Expanding the Product Ecosystem
Today, BoursoBank offers 51 to 57 financial products across banking, insurance, savings, and investment. “We aim to serve every kind of saver,” says Grisoni. In October 2024, the company relaunched BoursoBusiness, an offering for freelancers and independent professionals, with tailored accounts, cards, and investment options like term deposits and life insurance. A trading account is expected to be added soon.
In December, the bank launched BoursoFirst, a premium online private banking service for clients with €100,000 to €500,000 in financial assets. These clients benefit from exclusive products, preferential pricing, and dedicated advisors. The offering includes access to Luxembourg-based life insurance policies with over 4,000 investment options, as well as structured products and wealth summaries.
The bank also plans to broaden options for wealthier clients, potentially incorporating private equity. “However, we won’t deviate from our core principles of simplicity and efficiency,” he stresses.
On the retail front, BoursoBank recently added access to the Livret d’Épargne Populaire (LEP) for lower-income clients and may expand its crypto offerings—currently limited to five ETNs (Bitcoin, Ethereum, Cardano, Solana, XRP).
“Our primary goal is to keep improving the customer experience and reinforcing client autonomy,” Grisoni notes.
Looking Ahead: Sustainable Growth and Profitability
Despite its rapid growth, BoursoBank doesn’t aspire to dominate the entire banking industry. “Our goal is not to become a hegemonic player, but to win customer trust step by step through a comprehensive and competitive offering,” says Grisoni.
Currently, the bank manages €86.4 billion in assets, including €42 billion in deposits. In Q1 2025 alone, the bank recorded net inflows of €3.2 billion—a new record.
On average, a customer’s assets under management triple within five years. “This means we’re supporting them through life stages—from early adulthood to wealth building,” Grisoni explains. Customer loyalty remains high, with attrition rates at just 3%–3.5%, well below the 5% industry average.
Looking forward, BoursoBank aims to reach 8 million customers by the end of 2025—a milestone initially targeted for 2026. “We’re confident based on current momentum,” Grisoni says. Another key objective? Hitting €300 million in profit in 2026, following a return to profitability in 2023.