15 December 2017
visit http://response.ncr.com

BNP Paribas apoints custody and clearing head to lead new innovation lab

22 June 2016  |  7216 views  |  0 business meeting room

BNP Paribas Securities Services has set up a 20-person innovation and digital lab (I&D Lab) staffed by industry veterans to focus on the use of big data and distributed ledger technologies and potential investment oppotunities in the fintech sector.

Bank innovation labs have a poor rep among cynical industry-watchers, who tend view them as a PR exercise, staffed by spotty tech geeks with little experience of the nuts and bolts of the business.

The French bank is taking a more serious tack, appointing its former head of clearing, settlement and custody products Philippe Ruault to head up the new unit which will be situated at the company's Paris-based campus.

The bank says the lab will initially consist of a team of at least 20 experts drawn from across the business with expertise in IT, product design and client development. External technology specialists will also be brought in to assist with specific areas of development.

With an initial focus on big data and distributed ledger technology, the banks says the lab will look at how technology can assist with data management and visualisation, the distribution of products and new ways of helping clients clients manage their cash and liquidity requirements.

In addition to developing technology in-house, BNP Paribas Securities Services says it will also seek to identify opportunities to invest in and partner with external organisations, including leading fintech start-ups and other research and development laboratories.

The bank is already in discussion with a number of organisations and recently announced plans to launch a crowdfunding platform utilising distributed ledger technology in partnership with SmartAngels in France.

Says Ruault: "Having a dedicated team, focused purely on advancing and nurturing new technology and innovation, will ensure we remain at the cutting edge of the change taking place within the securities services industry.

"There are some extremely interesting and important challenges which need to be addressed around many of the nascent areas of technology currently vying to shake up things up in our industry. We are really looking forward to tackling these challenges head on and to moving these ideas to the next stage.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

French firms to build post-trade blockchain infrastructure for SMEs

French firms to build post-trade blockchain infrastructure for SMEs

21 June 2016  |  7823 views  |  0 comments | 12 tweets | 11 linkedin
BNP Paribas to broadcast hackathon on Periscope

BNP Paribas to broadcast hackathon on Periscope

16 June 2016  |  9782 views  |  0 comments | 8 tweets | 3 linkedin
BNP Paribas embraces Silicon Valley through Plug and Play partnership

BNP Paribas embraces Silicon Valley through Plug and Play partnership

08 April 2016  |  9656 views  |  0 comments | 12 tweets | 13 linkedin
Bank of Ireland and BNP Paribas announce blockchain breakthroughs

Bank of Ireland and BNP Paribas announce blockchain breakthroughs

05 April 2016  |  22980 views  |  0 comments | 41 tweets | 53 linkedin
BNP Paribas begins fintech accelerator programme

BNP Paribas begins fintech accelerator programme

24 March 2016  |  14554 views  |  0 comments | 31 tweets | 25 linkedin
BNP Paribas bids to help online marketplaces with compliance

BNP Paribas bids to help online marketplaces with compliance

17 March 2016  |  5808 views  |  0 comments | 4 tweets | 5 linkedin
BNP Paribas completes blockchain for transaction banking hackathon

BNP Paribas completes blockchain for transaction banking hackathon

02 February 2016  |  10385 views  |  1 comments | 15 tweets | 20 linkedin
BNP Paribas to test contactless payment displays

BNP Paribas to test contactless payment displays

23 November 2015  |  11054 views  |  0 comments | 21 tweets | 27 linkedin
BNP Paribas to pilot cards with dynamic CVV codes

BNP Paribas to pilot cards with dynamic CVV codes

02 October 2015  |  13814 views  |  3 comments | 34 tweets | 41 linkedin
BNP Paribas explores the blockchain; SocGen advertises bitcoin-related job

BNP Paribas explores the blockchain; SocGen advertises bitcoin-related job

24 July 2015  |  12536 views  |  0 comments | 14 tweets | 16 linkedin
Blockchain could upend post-trade infrastructure - BNP Paribas analyst

Blockchain could upend post-trade infrastructure - BNP Paribas analyst

06 July 2015  |  11915 views  |  0 comments | 18 tweets | 15 linkedin
BNP Paribas: The five ways Bitcoin can shake up the financial services world

BNP Paribas: The five ways Bitcoin can shake up the financial services world

12 November 2014  |  34912 views  |  2 comments | 43 tweets | 29 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10180 views comments | 16 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9255 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8891 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7582 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7206 views comments | 15 tweets | 24 linkedin

Featured job

Find your next job