BNP Paribas in €3bn digital overhaul

BNP Paribas in €3bn digital overhaul

BNP Paribas has unveiled a new 2017-2020 business development plan – building the bank of the future.

The French banking group will implement an ambitious transformation programme that aims to improve operational efficiency and customer experience, and accelerate its digital overhaul.

Between 2017 and 2019, €3 billion will be invested in the programme. It is forecasted that this investment will yield savings of €3.4 billion during the same period, and deliver annual recurring savings of €2.7 from 2020 onwards.

BNP Paribas says it plans to fuel its digital transformation by:

  1. Implementing new customer journeys to provide new digital, expanded, personalised and seamless services.
  2. Improving its operational model to use streamlined processes, build simplified organisations, and develop mutualised platforms.
  3. Adopting information systems that use new technologies and promote agile practices.
  4. Reinforcing data storage, protection, and analysis capabilities and leveraging data to benefit customers.
  5. Developing more digital, collaborative, and agile work practices.

By Soumik Roy, editorial contributor to Banking Technology