BNP Paribas is a leader in global banking and financial services. Present across Europe through all its business lines, the group has four domestic retail banking markets: France, Italy, Belgium and Luxembourg. It also has one of the largest international networks, with operations in more than 80 countries and 204,600 employees. Its revenue in 2010 exceeded €43 billion.
To achieve its goal of becoming a top-five investment bank, BNP Paribas recognized that it would need to overhaul its capital markets division’s client onboarding process. The existing process was highly siloed—legal, risk, front-office and due diligence teams did not have a view of what the others were doing, and thus no one had an overall view of the existing end-to-end process. As a result, onboarding was too cumbersome and many clients were unable or unwilling to complete it. This interfered with the bank’s ambitious growth objectives.
BNP Paribas needed to streamline the way it onboarded new clients by looking at the process from end-to-end and identifying key issues related to people, processes and technology. To achieve this, the bank turned to Accenture.