Why was BNP Paribas named the world’s best bank for corporates?
- London, United Kingdom
BNP Paribas was named the “World’s Best Bank for Corporates” at the 2017 Euromoney Awards for Excellence. The Group also brought home five other prestigious awards!
And the winner is…
For 25 years, Euromoney, a leading publication on international finance, has given out its Euromoney Awards to recognize the best banks in several categories. For the 2017 edition, 1,500 banks submitted their applications for 20 international awards, 50 regional awards and “best bank” awards in 100 different countries. At the 2017 awards ceremony, BNP Paribas took home the ‘World’s Best Bank for Corporates’ award, a crowning achievement after years of commitment to enterprise and entrepreneurs.
Open to the world
In bestowing this prestigious award, Euromoney made it a point to commend the international ambition and strategy of BNP Paribas. “As major corporations are returning their attention to their domestic markets, BNP Paribas is one of the few banks that continues to acquire new markets and new customers” praised Clive Horwood, editor at Euromoney.
Indeed, BNP Paribas employs more than 192,000 people across 74 countries. In terms of its Corporate & Institutional Banking and International Financial Services activities, the Group leads Europe and boasts a strong presence in the Americas, as well as a solid and fast-growing network in Asia-Pacific.
BNP Paribas employees around the world
The Euromoney awards also applauded the Group’s digital innovation policy.
BNP Paribas has opted for a soft transformation and permanent adaptation, rather than an approach based on “disruption”. This strategy involves anticipating and adapting to needs and, over the long term, developing digital tools that generate value for both SMEs and corporations. To deliver on this strategy, the Group nourishes partnerships with dynamic players, notably FinTechs, and is committed to co-developing digital solutions together with its corporate customers.
In addition, BNP Paribas works to accompany innovative companies in FinTech and InsurTech through a powerful support policy. The Group notably formed a strategic partnership with Plug and Play, a global innovation platform based in Silicon Valley, which gives the bank access to an international network for innovation. In 2017, BNP Paribas and Plug and Play opened an accelerator inside Paris’s Station F, the world’s biggest start-up incubator. The bank has also developed other programs to favor digital innovation within its line of services. This is notably the case at such spaces as the L’Atelier BNP Paribas FinTech and Corporate Accelerator and the WAI (We Are Innovation—a label supporting innovative companies), as well as events like its BNP Paribas International Hackathon, organized to support entrepreneurial projects in FinTech.
Several ‘Made in BNP Paribas’ innovations
- Mabanque.bnpparibas: The Group’s new website for individual and professional customers which offers easy access to services, organized based on customer needs, as well as the option to chat with bank representatives and sales support on social media.
- The concept store: Opened in 2010 on the Place de l’Opéra in Paris, the store offers a testing ground for new ways to communicate with customers. Since then, other concept stores have popped up in Istanbul, Brussels, and Rome. All locations promote the use of new technologies to enhance the customer experience.
- Finsy: This new offer, developed by BNP Paribas Factor, provides businesses with a digital solution for managing their invoices and customer accounts.
Tailored offers for entrepreneurs
BNP Paribas also enacts a targeted support policy for enterprises and entrepreneurs.
- It does this notably through a rich network of experts with special training in the issues facing entrepreneurs. In France, for example, the bank created a network of 330 private bankers dedicated exclusively to entrepreneurs. A team of 50 wealth management engineers are also available, as well as a team of dedicated specialists able to meet specific needs in: mergers & acquisitions, financial engineering, real estate, insurance, retirement, and financial management. Lastly, the Group opened 70 entrepreneur houses and Business and Consulting Centers to meet the specific needs of these new businesses.
- The BNP Paribas Group and BNP Paribas Wealth Management have developed dedicated programs like BNP Paribas Entrepreneurs 2016. This program aims to encourage BNP Paribas’s corporate customers to undertake entrepreneurial efforts (with the Group allocating a budget of 10 billion euros to finance investment and operation cycle), expand internationally, or invest.
- BNP Paribas launched a support offer for companies planning to develop abroad. Trade Solutions relies on an international network of specialists, and gives companies access to market studies, research by industrial and commercial partners, as well as full support for local offices.
- Finally, through its Corporate & Institutional Banking (CIB) offer, BNP Paribas provides top-tier financial solutions designed for corporate and institutional customers. With nearly 30,000 employees present in almost 57 countries, the Group delivers tailor-made solutions in the fields of capital markets, securities services, financing, treasury management and financial consulting.
Some offers from around the world:
• In Belgium, BNP Paribas Fortis has rolled out a beneficial policy for new entrepreneurs. With the Starters offer, the bank provides financing aid, dedicated tools and representatives, as well as insurance offers.
• In Luxembourg, the Corporate and Institutional Banking Luxembourg business line provides corporate customers with products and services relating to capital markets and financing. BGL BNP Paribas was notably named Europe and the Eurozone’s best bank in the
“corporate banking” category.
• In the United States, BNP Paribas’s Corporate and Institutional Banking (CIB) offer aims to build long-term relationships with its customers to support them in managing their business and investment strategies. CIB United States covers a dense network with 4,000 employees across the country, including in New York, Chicago, San Francisco, Houston and Dallas.
A long list of awards
Euromoney sought to praise the Group’s ongoing innovation policy by attributing five other awards to the bank. In addition to the prestigious “World’s Best Bank for Corporates” award, BNP Paribas also earned the highly coveted award for “Best Digital Bank in Western Europe!” Further adding to this list of recognitions are the awards for “Best Investment Bank in Belgium,” “Best Bank in Kosovo,” “Best Bank in Luxembourg” and “Best Bank in France!”
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