Awards for Excellence 2013: Best Wholesale bank for technology innovation
The Smart Derivatives platform has created a communications channel for investors in structured products.
Best Wholesale bank for technology innovation: BNP Paribas
Also shortlisted: Deutsche Bank and Société Générale CIB
The structured products market was hit hard in the crisis. Burnt by losses, clients began to prioritize transparency and search for simpler investments. But technology has enabled some banks to overcome problems and redefine the client experience with structured products. BNP Paribas’ Smart Derivatives is just such a platform, and the bank wins Euromoney’s inaugural award for best wholesale bank for technology innovation.
Smart Derivatives was launched in June 2012 and now has 180 clients with more than 70,000 quotes a month taking place through the web-based platform. The platform enables clients to price and trade their own structured products with full transparency throughout a product’s life.
Unlike many web-based platforms that list all products, Smart Derivatives suggests products and solutions targeted to users’ needs. "Usually websites are very passive with no interaction. But Smart Derivatives is a communications channel between sales and the client, rather than just a static product list," says Geoffrey Rodrigue, global head of stocks and index solutions at BNP Paribas.