BNP Paribas has picked eight fintech startups to take part in a four month accelerator programme that will see each firm work on developing products and services for specific areas of the bank's business.
The programme, run by the tech innovation specialist L'Atelier BNP Paribas, sees each startup paired with a different one of the French bank's departments, working on fields including insurance, payment methods, customer experience, cybersecurity, risk analysis and compliance.
Based at the BNP Paribas 'We Are Innovation' space in Paris, the participants will receive coaching in such areas as IT, marketing, business practice and fund-raising. In June they will take part in a demo day before action plans for future work are drawn up.
Jacques d'Estais, deputy COO, BNP Paribas, says: "I'm delighted to see a number of the bank's businesses working hand-in-hand with young startups. In our drive to invent the bank of tomorrow we can rely on the considerable resources of the BNP Paribas Group but we are also determined to make use of the skills of other players who are keen to improve the customer journey."