BNP Paribas Creates New Fund to Invest in Financial Services Startups

February 23, 2018

BNP Paribas has officially launched a new Investment Fund, with the purpose of locating and investing in technology startups that are creating innovative solutions in the financial services and insurance industries.

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The new fund will be managed by BNP Paribas Capital Partners, which falls under the operational capacity of the banking group’s Asset Management division.

The fund aims to work in tandem with entrepreneurs and investors to achieve successful results in the development of new innovations and products that can enhance the functionality of the financial processes.

BNP Paribas has indicated that the Investment Fund will also focus on investing through Venture Capital firms, in the event that their agenda for technological development matches that of the banking group, with respect to the type of technology as well as its geographical market implementation.

According to the company’s statement in the matter, the underlying types of technology solutions that are of interest to BNP Paribas, include cyber security, blockchain, AI, and data.

BNP Paribas Group Deputy COO and Head of International Financial Services, Jacques d’Estais, commented on the banking group’s new Investment Fund. “At BNP Paribas, we’re firmly convinced that Open Innovation is a powerful driver for the transformation that will help to build the bank of tomorrow and enable us to continue to provide our clients with high value-added products and services.”

Push for Enhanced Technological Capabilities

BNP Paribas continues to promote technological development, throughout its various internal units. The group’s Asset Management division recently conducted a blockchain test, aimed at reducing transaction times, and improving the overall execution and functionality of their systems.

Moreover, BNP Paribas is also reaching agreements with other companies, in an effort to enhance their technology capabilities. In November of last year, the bank agreed to collaborate with global electronic Market Maker Global Trading Systems. BNP Paribas entered the agreement, with the intention of facilitating deeper liquidity, tighter spreads and further improved pricing, across the US Treasuries secondary market.

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