BNP Paribas’s holistic approach to transaction banking unlocks value through innovation and collaboration

Noticeable changes in Asian economies have allowed global transaction banks to  demonstrate significant transformation. In a market as dynamic and fast-growing as Asia, BNP Paribas maintains a strong foothold with presence in over 13 markets. Further as business models transform, BNP Paribas along with its clients  is set to embrace the faster shift favouring e-commerce and online sales. Mahesh Kini, Head of Cash Management, APAC at BNP Paribas noted “transformation has now taken priority and clients are rapidly developing the ability to meet consumer demand using digital channels.” Present across major hubs and emerging ones, BNP Paribas prefers to remain as accessible and close to their clients as possible.

A full-service transaction bank

Mahesh Kini, Head of Cash Management, APAC at BNP Paribas

As a fast-moving and challenging landscape, the barrier to entry remains high in transaction banking as there is a significant technology cost involved to scale the business effectively. BNP Paribas has however made the necessary investments in various platforms over a decade ago and continues to have a strong appetite to further invest in various technologies in order to deliver on its clients’ latest requirements. Today, the bank cash management solutions suite is offered via variety of channels such as internet and mobile banking, host–to-host, SWIFTnet, EBICS and API protocols to further augment the clients’ banking experience.

While efficient measures and systems were put into place to improve and maintain liquidity, a crucial line of transaction banking – Trade Finance was drastically impacted by the pandemic. Largely a paper based business, “documentary credit and collection business in various parts of the world took a hit, including APAC which is an important region for documentary credit transactions, manufacturing and supply chain” noted Stephane Gaboriaud, Head of Trade Solutions, APAC. Subsequently, as transition to digital remains a prominent theme, trade document digitization has gained momentum. Edwin Chan, Head of Transaction Banking Product Management, APAC, noted that “document processing and handling was re-designed to meet Work-from-Home requirements while an accelerated shift towards end-to-end digital documentation is in the works.”

BNP Paribas takes on a collaborative, multi-layered approach to the growing players in the transaction banking space.

Using technology to build effective solutions

Stephane Gaboriaud, Head of Trade Solutions, APAC

Globalization has ramped up value chains and e-commerce activity while creating massive opportunities for technology companies and non-bank players in the global transaction banking space. BNP Paribas takes on a collaborative, multi-layered approach to the growing players in the transaction banking space. As a global bank with proprietary platforms and technology at its disposal, Mr. Kini emphasizes on this further by stating, “BNP Paribas consistently addresses pain point by collaborating with our corporate clients and partnering with Fintechs to find suitable solutions. Nimble FinTech gives us access to the latest technology and innovations, significantly reduce the time to market.”

Prominent themes of most conversation in banking revolve around extensive application of technology and digitalization of process and BNP Paribas sets itself apart by creating an agile and scalable ecosystem for its clients. Significant investment in technology and partnerships allow the bank to offer a dedicated customer service experience. Extensively leveraging APIs across its internal network, the bank is now set to extend its to its broader client base. Approaching one of the most common problems of invoice reconciliation, BNP Paribas is currently developing use cases by leveraging Artificial Intelligence and Natural Language Processing.

Fostering relationships via collaborations

Edwin Chan, Head of Transaction Banking Product Management, APAC

With successful collaborations with FinTechs such as CashForce on cash forecasting, and LianLianPay in China which enables the bank’s clients to access Alipay, WeChatPay, UnionPay networks, while playing an active role in ecosystems such as Contour – a decentralised, digital trade finance platform, and eTradeConnect to guide market practices to move towards digitalization, BNP Paribas has demonstrated exceptional client services by building relationships and going the extra mile to support them and protect their interests in a complex and evolving environment.

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>> Read more exclusive features about retail banking innovation and the digital banking landscape. Download the latest issue of The Digital Banker Magazine HERE.

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