Awards for Excellence 2016
Transaction services in Europe is a stable market in which regulatory change is usually the main source of concern. So the sudden departure of one the biggest European cash management providers came as shock and left a void that many worried would be difficult to fill. For BNP Paribas, however, it has been a great opportunity.
In 2015 it took on the task of being the preferred bank for RBS’s outgoing global transaction banking customers. After requests for proposals, BNP Paribas has taken a large proportion of these customers, integrating them into its existing workflow without detriment to its new or existing clients.
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BNPP's Centric online |
A dedicated team was established to work through the arduous task of assisting these companies through the transition. By carrying out close due diligence on the information already available, the bank was able to keep the impact of know-your-customer compliance on the new companies to a minimum.
Part of its success in quickly migrating clients lay in its strong existing digital banking platform, Centric. In the past 12 months the bank has greatly expanded this platform’s capabilities.