SAN FRANCISCO, March 23, 2018 /PRNewswire/ -- Bank of the West and L'Atelier BNP Paribas today announced the Bank will partner with emerging financial technology (fintech) firms through Finlabs, a program that will join several of the Bank's business lines with Silicon Valley's best and brightest startups to collaboratively launch transformative and experience-driven products for customers. L'Atelier BNP Paribas, the Innovation Studio that helps the Group BNP Paribas transform its business, will match Bank of the West's businesses with fintech companies to test products directly with customers. Startups benefit from fast feedback and real market experience, while gaining full access to the BNP Paribas network worldwide.
Call for Applications:
- Applications are opened to fintech startups on March 23. Entry is open to any growth-stage fintech company.
- Applications will be due by mid-May.
- Following the application period, each of the Bank's business heads will meet with a select shortlist of applicants for one-on-one pitch meetings, from which up to 10 pilots will ultimately be selected for partnership.
- The program will officially kick off with an onboarding event in June.
"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.
"This program taps the talent and innovative ideas of entrepreneurs to the benefit of the Bank's customers," said Rena Zuabi, Head of Innovation Programs at L'Atelier BNP Paribas Americas. "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."
The program is expanding across all Bank of the West business lines, and is the latest in a comprehensive effort to support entrepreneurs across the Bank, including other activities like the Women's Entrepreneur Program's annual U.S. event. In January 2019, the Bank will evaluate Finlabs' existing pilots to select which companies will continue.
To find out more about the Finlabs program and to participate in the application process, please visit the Finlabs website.
About Bank of the West
Bank of the West is a financial services company headquartered in San Francisco with $89.8 billion in assets as of December 31, 2017. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, a leading bank in Europe, which has a presence in 74 countries with more than 192,000 employees. To learn more about Bank of the West, visit About Us via BankoftheWest.com.
Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. © 2018 Bank of the West. Doing business in South Dakota as Bank of the West California.
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About L'Atelier BNP Paribas
L'Atelier BNP Paribas is an innovation studio who helps BNP Paribas and its clients create new business opportunities. L'Atelier has been scouting digital innovation cross industries for 40 years to identify new use-cases, build innovation roadmaps, launch new products, services, and innovation programs. Present in three innovation hotspots, Paris, San Francisco and Shanghai, L'Atelier operates beyond the borders of the banking sector.
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SOURCE Bank of the West