Constance Chalchat, BNP Paribas CIB Head of Change Management, interviewed by BFM Business on their Tech&Co programme
the Corporate and Institutional Banking (CIB) arm of BNP Paribas Group reinventing
itself faced with the challenges posed by digital and tech? Constance Chalchat,
Head of CIB Change Management, explains in an interview on BFM Business with
Sébastien Couasnon and Frédéric Simottel on their programme, Tech & Co,
which explores what digital transformation means for companies.
This interview is available in French only.
Key takeaways from the interview
Why this transformation? What are the opportunities?
Companies have to transform themselves in
order to remain competitive. Trends in
client evolution, regulation and competition represent an extraordinary
opportunity to accelerate our transformation by improving the client
experience, increasing our operational efficiency and developing the new
services of tomorrow, in particular through better use of data by being very
responsible in our approach.
How exactly will you organise yourself around client data and what role does artificial intelligence (AI) play?
We are confident that much of the future
innovation will come from our ability to intelligently and responsibly use data
to anticipate customer needs. AI will allow us to be more efficient, to better
protect our clients' interests and to be more useful to our clients.
How do you go about bringing on board staff and especially managers so that they become drivers of this transformation?
avoid the vision of a future challenged by technology it was critical to
mobilise all our employees. To this end, a comprehensive awareness and training
plan for innovation and digital has been set up. Our goal is now to make as
many employees as possible beneficiaries of the most advanced technologies as
quickly as possible.
How can we respond to
the fintechs, which are certainly more powerful today but also more agile than
the big financial companies?
These actors do not represent a threat but
an opportunity if one knows how to look at them. It is up to us to seize these
opportunities. Working in partnership
with new players is also essential to attracting the best talent: it is a
promise for them that they can find a favourable environment for new
How should we innovate more quickly internally? In start-up mode? With clients? With new actors?
We started with the client; we conducted more than 200 interviews with
the Group's major clients, we organised
numerous hackathons, bringing together start-ups, clients and staff to invent
new solutions together, we have launched
an ambitious plan to overhaul client journeys, and we have orchestrated two
internal 'Kaggles', modelling contests on anonymised customer data. To
facilitate these initiatives, more than 200 employees have been recruited in
new technologies, of which about 20 researchers are focused on innovation.
However, banks cannot have all the good ideas on their own. The use of fintechs
and start-ups allows for greater creativity, agility and speed of execution.
Blockchain: the stakes
have been studying blockchain since 2011 and are quite advanced in terms of its
potential applications in the banking world. Today we already have two examples
of solutions that work on blockchain: a bizhackathon blockchain for the
business of Transaction Banking and a a project with SmartAngel, a French
crowdfunding start-up funded entirely by blockchain.
Constance Chalchat – Head of Change Management, Corporate and Institutional Banking at BNP Paribas