Introducing Finlabs: Bank of the West, L’Atelier BNP Paribas seek startups
As our customer needs become increasingly complex, it’s our responsibility to innovate with them in lock-step to ensure ease in their financial lives.
That is why we’re excited to announce, along with L’Atelier BNP Paribas, a new partnership with emerging financial technology (fintech) firms called Finlabs, a program that will join several lines of business with Silicon Valley’s startups to collaboratively launch transformative and experience-driven products for Bank of the West.
L’Atelier BNP Paribas, the innovation studio that helps the BNP Paribas business by leveraging the Silicon Valley ecosystem, will match our businesses with fintech companies to develop protoypes and test products directly with customers.Call for applications
We are currently seeking fintech participants for the program.
- Applications are currently open to fintech startups.
- Entry is open to any growth-stage fintech company.
- Applications are due mid-May.
- In June, each of our business heads will select a shortlist of applicants for one-on-one pitch meetings, from which up to 10 pilots will ultimately be selected for partnership.
- The program officially kicks off with an onboarding event in July, involving two full days of design workshopping to scope the pilot solutions and develop a product plan.
“We are fortunate to be part of a community with some of the world’s most forward-thinking innovators. By expanding our successful FinLabs program, we will further tap into Silicon Valley’s innovative spirit to benefit more of our customers,” said Nandita Bakhshi, President and CEO at Bank of the West.
“We are proud of what the Finlabs program has accomplished within the Bank’s Commercial Banking Group, and are thrilled to grow our efforts across the organization,” said Rena Zuabi, Head of Innovation Programs at L’Atelier BNP Paribas Americas.
This new U.S. program builds upon two years of focused trial work within the Commercial Banking Group (CBG), and was spearheaded by Jean-Marc Torre, Head of the CBG. Similar programs have been piloted by BNP Paribas in Europe and draws on L’Atelier BNP Paribas hands-on work with fintech partners globally.
Finlab’s work across Bank of the West will be led by John Finley, Head of Innovation and Customer Journeys, in partnership with L’Atelier BNP Paribas.Engaging entrepreneurs
The program is the latest in a comprehensive effort to support entrepreneurs across the Bank, including other activities like the annual Women’s Entrepreneur Program. In January 2019, the Bank will evaluate existing pilots to select which companies will continue.
The Finlabs program reflects our culture of innovation through collaboration and partnerships throughout our community—locally and globally.
You can apply to the program at the Finlabs site.