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Digital Transformation in securities services: The BNP Paribas case study

Author

Listed:
  • Ruault, Philippe

    (Head of Digital Transformation, BNP Paribas Securities Services, France)

Abstract

This paper describes how a specialised financial institution is addressing Digital Transformation in order to improve customer experience, enhance internal processes and build new services. It describes the ambitions and the roadblocks. It explains the importance of multidisciplinary teams and how new disruptive technologies (AI, Blockchain, data) could help to generate efficiencies and synergies across all operations and geographies, and how indirect material benefits are delivered to customers. It then focuses on data, and how advanced technologies are able to help to produce value, such as what-if simulations, aggregated data and distribution of accurate data to clients through various channels, such as APIs or platforms. It goes on to outline how collaborating with Fintechs/Regtechs, and investing in new market initiatives, helps to create value. It also describes why exploring platform-based business models are a way of delivering a differentiated customer experience. Finally, it reminds how internal ownership of the technology and employee engagement is vital. The paper concludes that digitalisation is an opportunity to reinvent existing processes and can transform the way a business work and serves its clients.

Suggested Citation

  • Ruault, Philippe, 2020. "Digital Transformation in securities services: The BNP Paribas case study," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 12(3), pages 229-236, June.
    • Handle: RePEc:aza:jsoc00:y:2020:v:12:i:3:p:229-236
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    More about this item

    Keywords

    global securities services industry; technological evolution; artificial intelligence (AI); natural language processing; Blockchain; APIs; digital interaction; intermediaries;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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