The bank has an entirely new approach to working with startups! Representatives of BGŻ BNP Paribas will be at Impact’18, this June 13th-14th in Krakow, to tell interested companies all about it!
BGŻ BNP Paribas has simplified the process by which it can acquire technology, made the formalities much more user-friendly, created a special testing ground for innovative solutions and defined a specific framework for startups that would like to implement their innovations at the bank. This new approach has been laid out in a 6-step “Code of Conduct for Cooperation with Startup” which, as Piotr Widacki, Managing Director and Head of Digital Transformation at BGŻ BNP Paribas, say: “opens the bank up to effective cooperation with young tech companies while changing the rules of the game in the corporate-startup relationship”. The six steps in this revolutionary approach are:
- Find out what the bank needs: BGŻ BNP Paribas first verifies its own needs and priorities, then establishes a project owner who puts together the budget and team that goes through with a Proof of Concept (POC).
- Find the right startups for the job: the project owner starts scouting the market in search of innovative technologies that can accomplish the task at hand. Startups that make the ‘short list’ are invited to contact the bank via e-mail. Each prospective company than receives help in preparing for talks with the bank signs an NDA and is asked to address the bank’s need in an individual meeting.
- Work together to tweak the solution: startups that make it past this preliminary-selection stage are invited to participate in a workshop. Together with employees of the bank, they adjust the concept – getting it as close to meeting the defined need(s) as possible, establishing terms of cooperation, defining desired effects and setting up a timetable – all of this leading to the signing of a simplified POC agreement.
- Find out if the solution actually works (POC): At this point, it’s time to go for a ‘test-drive’ and hit the sandbox – if this POC phase goes well, it’s time to start working on the tangibles – this is when the bank and startup agree on specific KPIs.
- Implement the solution in the best possible way: This step is all about security and making sure the solution adheres to current regulations. The bank and startup than agree on the best form of remuneration, sign a contract and get to work!
- Keep in touch (always): Startups that get recruited by the bank’s Digital Transformation Team are handled by a specific person that keeps in touch with them. That person is there to guide them through every step of the implementation process and always provide clear feedback regarding next steps.
If you’re interested in working with BGŻ BNP Paribas contact them at startupy@bgzbnpparibas.pl and don’t miss your chance to have a face-to-face conversation at Impact’18!
