By extending BP²I to Italy, BP²I can provide solutions across both its French and Italian operations. It is hoped that BP²I will provide significant cost savings to the BNP Paribas Group by transforming BNL's IT infrastructure and aligning it with BNP Paribas' current infrastructure and standard processes. The agreement could enable BNP Paribas Group to strengthen BNL's capabilities to better manage the globalisation requirements of the retail banking business.
In signing this agreement, BNP Paribas is expanding its existing partnership with IBM, which began in 2004 when IBM proposed a new IT infrastructure management for BNP Paribas Group's Retail and Insurance branches across France, and in doing so, created BNP Paribas Partners for Innovation - BP²I - the IT services company equally owned by BNP Paribas SA and IBM.
"We are pleased about the extension of our partnership with IBM and of the scope of operations of our 50/50 joint venture, BP²I. As we progressively build a multi-domestic retail bank across Europe, it will be essential to create European competence centers in each of country, along with aligned processes to leverage the IT operations, all of which will be made possible through BP²I," says Hervé Gouëzel, président du conseil de stratégie et de surveillance de BP²I.