BNP Paribas has become the latest major retail bank to launch a retail store concept, dubbed 2 Opéra, in an attempt to differentiate itself from rivals. BNP Paribas head of online banking Virginie Fauvel tells Duygu Tavan that promoting an innovation-led strategy will improve customers banking experience.
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BNP Paribas (BNPP), Frances largest bank by assets, has launched its first concept store, 2 Opéra, which it will use as a lab to test customer demand for the use of the latest technology in retail banking.
BNPP said the store, named after the street in Paris where it is located, would improve customers banking experience.
Following client feedback, BNPP designed the pilot branch concept over the past 15 months and going forward, will analyse feedback from customers, with the aim of deploying some of the more successful aspects of the concept store across its traditional branches.
The new branch is divided into 10 specific areas and has been designed to flag up the banks core values of commitment, approachability, learning, responsiveness and innovation.
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By GlobalDataChannel innovation has been a key part of BNPPs retail investment in the past year.
To promote its online channel, BNPP was the first French bank to launch a service on Apples iPad tablet platform; it also rolled out online banking subsidiary called Net Agence.
The bank has also invested in a mobile banking service, which attracts 200,000 regular customers each month.
Virginie Fauvel, BNPPs head of online banking, is charged with accelerating take-up by the banks customers of the online and mobile banking channels; she discussed the 2 Opéra project with RBI.
Retail Banker International (RBI): In what way is this concept store different to a traditional BNP Paribas branch?
Virginie Fauvel (VF): 2 Opéra offers the general public a new approach to banking relationships, while staying closely aligned to the new and evolving needs of our clients.
We therefore, decided to involve clients in the design process by carrying out a survey before finalising the concept.
RBI: What did the survey reveal?
VF: What we found was that our clients want their banking advisers to be available, approachable and ready to listen.
They said they want a genuine human contact and a friendlier branch atmosphere, with welcoming areas open to the public, in addition to areas dedicated to specific requirements and this is exactly what we created.
Clients also wanted to have a choice of whether to ask for assistance or to help themselves using innovative technology discussed above.
RBI: What kind of technology does the lab branch offer?
VF: In the lounge area, clients and non-clients can relax, surf the internet using their own smartphones or via the iPads provided.
In the banking area, they can discover our services and product range and perform different types of simulations on the interactive screens using the applications provided.
Visitors can also access economic and financial information and check the main stock market prices via televised programmes in French or English in the financial information area.
Advisers and experts are on hand, at all times, to help customers use the new technology.
RBI: Which vendors did you partner with and which technology did they provide?
VF: We used Apple technology for the iPad and applications, Sony for the tactile tables and Orange for Wi-Fi.
RBI: Are you going to open more such branches and if so, where?
VF: At present this is designed as an innovation lab and is a proto-type which we intend to develop, having analysed customers responses, feedback and behaviour.
Equipped with this information we will roll-out services and designs as we see appropriate.
RBI: How is this branch going to change your retail banking business?
VF: This branch is designed to showcase our forward-looking use of technology and innovation in retail banking.
With this branch, our main aims are to:
- Offer everyone both clients and non-clients a new experience, at a site open to all;
- Reinvent the relationship with clients and prospective customers, through openness and responsiveness, whether informing people directly or helping them to learn; and
- Turn the branch into a lab promoting innovation and new banking features.
RBI: Are you expecting to grow your customer base and what is your expectation regarding customer numbers?
VF: We did not lay down quantitative targets. What we wanted was to test the new technologies and approaches and, most importantly, to answer the needs of customers and to generate increased satisfaction. From hereon, business and customers will follow.
