RCI Banque SA (), trading as Mobilize Financial Services and formerly known as RCI Bank and Services and as Renault Crédit International, is a France-based international company that is a wholly owned

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...

Renault Groupe Renault ( , , , also known as the Renault Group in English; legally Renault S.A.) is a French multinational automobile manufacturer established in 1899. The company produces a range of cars and vans, and in the past has manufactured ...

. RCI Banque specialises in automotive financing, insurance, and related activities for the Renault group brands (Renault,

Renault Samsung Motors Renault Korea Motors ( ko, 르노코리아자동차), is a South Korean car manufacturer headquartered in Busan where its single assembly site is also located, with additional facilities at Seoul (administration), Giheung (research and develop ...

Dacia Dacia (, ; ) was the land inhabited by the Dacians, its core in Transylvania, stretching to the Danube in the south, the Black Sea in the east, and the Tisza in the west. The Carpathian Mountains were located in the middle of Dacia. It thus r ...

, Lada and Alpine) globally for the

Nissan , trade name, trading as Nissan Motor Corporation and often shortened to Nissan, is a Japanese multinational corporation, multinational Automotive industry, automobile manufacturer headquartered in Nishi-ku, Yokohama, Japan. The company sells ...

group brands (Nissan,

Infiniti is the luxury vehicle division of the Japanese automaker Nissan. Infiniti officially started selling vehicles on November 8, 1989, in North America. The marketing network for Infiniti-branded vehicles included dealers in over 50 countries in ...

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) in Europe, Russia, Asia and

South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere at the northern tip of the continent. It can also be described as the southe ...

; and for

Mitsubishi Motors is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan.Renault Groupe Renault ( , , , also known as the Renault Group in English; legally Renault S.A.) is a French multinational automobile manufacturer established in 1899. The company produces a range of cars and vans, and in the past has manufactured ...

in 1974 as the ''Société Financière de Renault'' or Sofiren, being intended as a way of financing sales for its dealerships and to manage the automaker's cash flow in Europe. On 27 June 1980 it was renamed Renault Crédit International (RCI). In 1990, it merged with Diac (''Diffusion Industrielle et Automobile par le Crédit'') SA, a company formed in 1924 by Louis Renault as a result of the lack of liquid funds after the 1921 crisis and with similar objectives, but focused exclusively on loans for the purchase of vehicles (today Diac operates as a RCI Banque's wholly owned subsidiary). By 1990, it contributed with more than one-third of Renault group's net income. By the end of 1999, after the establishment of the Renault–Nissan Alliance, the firm acquired the five

's financial affiliates in Europe (located in the United Kingdom, the Netherlands, Italy, Germany and Spain) for and expanded its presence in South and Central America to finance Renault and Nissan sales. In November 2001, the company was named RCI Banque. In February 2016, as part of a corporate image revamp, RCI Banque adopted the commercial name RCI Bank and Services. In January 2018, the firm moved its headquarters from

Noisy-le-Roi Noisy-le-Roi () is a commune in the Yvelines department in the Île-de-France region in north-central France. Population Twin towns * Albion, Michigan, USA * Godella, Spain, since August 2006 See also *Communes of the Yvelines department ...

to the

2nd arrondissement of Paris The 2nd arrondissement of Paris (''IIe arrondissement'') is one of the 20 arrondissements of the capital city of France. In spoken French, this arrondissement is colloquially referred to as ''deuxième'' (second/the second). It is governed locally ...

. The Noisy-le-Roi headquarters were kept by the subsidiary Diac. In February 2018, the firm's affiliate in the Netherlands announced it would finance

Mitsubishi Motors is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan. In 2020, the firm recorded 1,520,330 contracts financed, generating new financings of €17.8 billion. It also offers related services, including car loans (used and brand-new), electric vehicle battery leasing contract (100,000 contract in March 2017), rentals with purchasing options,

lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

s, long-term rentals for retail customers and services, such as maintenance, extended

warranties In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract",Hogg M. (2011). ''Promises and Contract Law: Comparative Perspectives''p. 48 Cambri ...

, roadside assistance, fleet management, and

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

s. It also finances new vehicles, used vehicles, and spare parts, as well as short-term cash requirements for the Renault–Nissan–Mitsubishi Alliance dealerships. It has subsidiaries in Argentina, Brazil, Colombia, Algeria, Morocco, Ukraine, South Korea, and the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

and joint-ventures in Russia, Turkey and India. The firm has developed online vehicle sales. In Brazil, 20% of the Renault KWID models sold in 2018 were booked online using RCI e-payment. Dacia customers in the United Kingdom have been able to finance and pay off the model of their choice entirely online since November 2018 via the Dacia Buy Online website. It is the first time that a fully digitalized customer experience has been proposed in the British market. In 2020, it sold 1.8 services per vehicle registered by the Alliance brands in its operating scope. The firm is one of the largest issuers of auto loan

asset-backed securities An asset-backed security (ABS) is a security whose income payments, and hence value, are derived from and collateralized (or "backed") by a specified pool of underlying assets. The pool of assets is typically a group of small and illiquid asset ...

in Europe. In 2004, it had, together with the PSA Banque, a 10 percent participation, only behind

Volkswagen Volkswagen (),English: , . abbreviated as VW (), is a German Automotive industry, motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a ...

and

Fiat Fiat Automobiles S.p.A. (, , ; originally FIAT, it, Fabbrica Italiana Automobili di Torino, lit=Italian Automobiles Factory of Turin) is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiary ...

banks. It continued to develop its e-payment offer in 2019. 400,000 transactions were realized by its customers via the RCI e-payment solution, up 27.4% compared to 2018. In 2021, RCI Bank and Services achieved a group pre-tax profit of €1,194 million, up 19% compared to 2020. New financing amounts to 17.8 billion euros with a total of 1,415,841 contracts financed.

Acquisitions

RCI Bank and Services is expanding its mobility operations. In January 2017 it became the majority shareholder of :fr:Karhoo a platform of integrated reservation which gathers companies of taxis and on-demand transportation . In September 2017 it acquired Class and Co, the parent company of Yuso (an automated fleet management system for taxi, ride-hailing and delivery services) and Marcel (a platform for reserving ride-hailing services in the Paris metropolitan area). On 8 June 2018 it acquired a 75% majority interest in iCabbi, a dispatch management company for automotive fleets of taxis and PHVs.

Innovations

RCI Bank and Services has joined “LaBChain”, a European banking-finance-insurance consortium dedicated to blockchain technology launched by the Caisse des Dépôts group. In March 2018 it entered a partnership with Octo Telematics to supply telematic services and thorough analyses of the data to improve driver’s experience.

Savings

In February 2012, RCI Banque launched the ZESTO savings accounts, which were opened to a general clientele. This internet-based operation was the first of its type by an automaker's subsidiary in France. The launch was accompanied by a TV commercial from Romain Kunstlinger. The success of this initiative led to other automotive groups operating in the French market, as

PSA Peugeot Citroën The PSA Group (), legally known as Peugeot S.A. (Peugeot Société Anonyme, trading as Groupe PSA; formerly known as PSA Peugeot Citroën from 1991 to 2016) was a French multinational automotive manufacturing company which produced automobiles ...

, to consider launching similar projects. At the end of 2012, RCI Banque announced plans to extend ZESTO to Germany. The German version of ZESTO was launched in 2013, called RCI Bank Direkt. In January 2014, ZESTO-Bank Direkt had over 136,000 customers. RCI Bank and Services launched its deposit collection business in Spain in November 2020. At end-December 2020, net collected deposits totaled €20.5 billion, or 43% of the company's assets. Deposits from retail customers in France, Germany, Austria, the United Kingdom, Brazil and Spain (savings books and term deposits) reached 20.5 billion euros at the end of December 2020 compared with 17.7 billion € at the end of December 2019 and representing nearly 43% of net assets at the end of December 2020.

UK subsidiary

In June 2015, RCI Banque's British subsidiary, RCI Bank UK, based in

Rickmansworth Rickmansworth () is a town in southwest Hertfordshire, England, about northwest of central London and inside the perimeter of the M25 motorway. The town is mainly to the north of the Grand Union Canal (formerly the Grand Junction Canal) and ...

, launched a savings account system in the United Kingdom, becoming the first car manufacturer-related financial company to do so. In March 2019 it obtained a UK banking licence; in February 2017 it announced it had received more than £2.1billion of deposits from more than 60,000 savers in the UK since launching in June 2015. In 2017, RCI Bank was awarded as the "Best No Notice Account Provider" by the

Moneyfacts Group Moneyfacts Group Plc is a financial information company founded in 1988 based in Norwich in the United Kingdom employing over 80 people. History Moneyfacts was founded in 1988 by current chairman John Woods, who led the Financial Industry Group ...

Management

, the company is managed through an Executive Committee and a Board of Directors. Positions are as follows: João Miguel Leandro is Chief Executive Office, and Clotilde Delbos , Chairman of the Board).

Sponsorship

RCI Banque's Diac sponsored the

Renault Sport Renault Sport () or Renaultsport, was the motorsport, performance and special vehicles division for Renault-badged cars. Renault Sport was officially established in 1976 as a merger between the Alpine (automobile), Alpine and Gordini competition ...

-assisted R5s and

Clio In Greek mythology, Clio ( , ; el, Κλειώ), also spelled Kleio, is the muse of history, or in a few mythological accounts, the muse of lyre playing. Etymology Clio's name is etymologically derived from the Greek root κλέω/κλεί� ...

s of the Société Diac team, which competed in some events of the

World Rally Championship The World Rally Championship (abbreviated as WRC) is the highest level of global competition in the motorsport discipline of rallying, owned and governed by the FIA. There are separate championships for drivers, co-drivers, manufacturers and t ...

and the

French Rally Championship The FFSA French Rally Championship or Championnat de France des Rallyes is France's leading domestic motor rally competition. It's a championship that has been won three times by Didier Auriol, Guy Fréquelin, Patrick Bernadini and Philippe Bug ...

during the late 1980s and early 1990s. On 24 March 2010, Diac and

Renault F1 The French automotive manufacturer Renault has been associated with Formula One as both team owner and engine manufacturer for various periods since 1977. In 1977, the company entered Formula One as a constructor, introducing the turbo engine ...

signed a sponsorship agreement which lasted from the

Australian Australian(s) may refer to: Australia * Australia, a country * Australians, citizens of the Commonwealth of Australia ** European Australians ** Anglo-Celtic Australians, Australians descended principally from British colonists ** Aboriginal A ...

to the

Monaco Grand Prix The Monaco Grand Prix (french: Grand Prix de Monaco) is a Formula One motor racing event held annually on the Circuit de Monaco, in late May or early June. Run since 1929, it is widely considered to be one of the most important and prestigiou ...

of that year. In 2017, the firm announced a new deal with the Renault F1 team from the

Malaysian Grand Prix The Malaysian Grand Prix (officially the Malaysia Grand Prix from 1963–1965 and 2011–2017 and Malayan Grand Prix in 1962) was an annual auto race held in Malaysia. It was part of the Formula One World Championship from 1999 to 2017 and it ...

onwards.

References

External links

Official RCI Banque Web SiteOfficial Renault Group Web Site
{{Portal, Banks Financial services companies of France Insurance companies of France Leasing companies Financial services companies established in 1974 Renault 1974 establishments in France Banks under direct supervision of the European Central Bank Banks of France