The Digital Transformation of BNP Paribas

Cathy C.

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The Digital Transformation of BNP Paribas

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BNP Paribas, bank, french bank, evolution, digitalization, digital transformation, technology, fintech, bank performance, strategy, competitors

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Abstract

This report will focus on a traditional French bank: BNP Paribas. Indeed, the objective will be to take a look at its evolution since its creation and how it has adapted to the evolution of technology.

Faced with a growing Fintech industry, it is interesting to understand how BNP Paribas is positioned today.

History of BNP Paribas
Digitalisation: The technology revolution
Financial Data of BNP Paribas
The competitive environment of BNP Paribas

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[...] The bank set aside €3.0 billion for IT investments in 2018, €3.2 billion for 2019, €3.5 billion for 2020, and €3.7 billion for 2021. These investments highlight the bank's dedication to digitization and could boost the share price. Clients: Over this time, BNP Paribas has seen an increase in its online clientele. In and 2021, the bank's digital channels saw an increase in active consumers of and respectively. This expansion might be brought on by the bank's enhanced digital services and beneficial for the share price. [...]

[...] The bank has also promoted departmental collaboration to support a more flexible and adaptable approach to digital transformation. iv. Collaboration with fintechs: BNP Paribas has decided to team up with fintech firms to take use of their cutting-edge tools and talents. For instance, the bank has collaborated with a number of fintech companies to create fresh goods and services including mobile payments and digital wallets. ii. Using agile approaches: To enable it to quickly create and deliver new products and services, the bank has adopted agile methodologies. [...]

[...] Here's how these fintech start-ups are shaking up banking". "BNP Paribas embarks on agile IT development with HCL," Computer Weekly, October 2018. "BNP Paribas takes a leading role in digital transformation with Salesforce," Salesforce, March 2019. "BNP Paribas: driving innovation and sustainability," Euromoney, December 2019. "BNP Paribas to boost AI focus after hiring new head of FinTech Futures, July 2020. "BNP Paribas puts digitalisation at heart of strategy," The Banker, November 2020. [...]

[...] The bank has already begun a number of digital efforts, including online and mobile systems for banking. Promote sustainability and corporate social responsibility: BNP Paribas is dedicated to advancing sustainability and CSR. The bank has established aggressive goals to lessen its carbon impact and boost the amount of renewable energy projects it finances. Additionally, BNP Paribas wants to expand the amount of initiatives it supports that advance social and environmental goals as well as small and medium-sized businesses. Talent development: The bank has created a thorough talent development program since it understands how important its workers are to its success. [...]

[...] La Revue du Digital. "La transformation digitale de BNP Paribas en chiffres". BforBank. "Le digital banking, c'est quoi Forbes. "Global 2000: The World's Largest Banks in 2022". Investopedia. "Top 10 Banks in the World". The Balance. "The 8 Largest Banks in America". CNBC. "Revolut, N26 and Monzo are winning over millennials and investors alike. [...]

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