Traditional financial institutions have a somewhat negative reputation for being slow to adopt new technologies. But BNP Paribas wants to make progress on that front and is bringing in new talent to do so.
Reports on Wednesday (Jan. 27) said the bank has named Rudi Collin as chief digital officer for its corporate banking operations. It’s a new role, according to reports, designed by the FI to improve its adoption and integration of banking technologies.
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“Rudi will be in charge of accelerating, managing and monitoring the digital transformation of CIB [corporate and institutional banking] and will harmonize technology platforms across the bank,” the company said in a statement.
Reports said BNP Paribas’ latest move is part of a broader effort among the world’s banks to increase automation through data, technology and other innovative tools. According to BNP Paribas, Collin will oversee the creation of a platform that will allow a “corporate treasurer, for example, to log in just once to gain access to all relevant tools, from cash management applications to foreign exchange hedging tools,” the bank added.
Such a portal is in the works as BNP Paribas is reportedly reworking its corporate and institutional banking division budget. That revised budget is part of an overall shift in strategy, which is expected to be revealed by the bank sometime in the near future, reports said.
Last October, BNP Paribas Chief Financial Officer Lars Machenil made remarks that hinted at the bank’s focus on growing its market share of the world’s corporate banking sector.
Part of that plan included the publication of a cross-border payments guide for its enterprise banking clients.
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