BNB Paribas teams with Snap to lead on social networks

Written by on May 9, 2017 in Guest Blog with 0 Comments

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BNP Paribas has signed a global partnership with Snap Inc. In a move to strengthen its proximity to millennials and cement its position as the leading bank on social networks, BNP Paribas has signed a global partnership with Snap Inc.

BNP Paribas entered a global partnership with Snap Inc. this week in an effort to acquire more millennial employees and better understand how to interact with the millennial generation. Like many banks, BNP Paribas views millennials as a strategically important customer group for retail banking products and services in the future. The global financial heavyweight released details of a plan (here) to boost spending on digital initiatives by 50 percent to €3 billion.

Snapchat’s potential in the social and mobile fields is widely known and respected. The company’s smartphone app now has a community of 158 million daily users who view over 10 billion videos and exchange over 2.5 billion snaps worldwide every day.

Bertrand Cizeau, BNP Paribas Group Head of Communications, stated,

“This strategic partnership builds on the momentum which began several years ago within the digital media ecosystem. Our challenge is to be present where our core target is while simultaneously speaking the same language as Millennials, the new generation. They are our future co-workers and future clients.”

Emmanuel Durand, Snap Inc., General Manager, France, commented on the new partnership, saying,

“We are proud of the partnership with BNP Paribas and delighted that we are strengthening our collaboration around Snapchat’s potential and our creative solutions. Together we will seize opportunities that will enable BNP Paribas to cement its position as the go-to bank for Millennials,”

BNP Paribas has maintained an active presence on Snapchat over the past year. The company is featuring its employees in short videos that show potential recruits what it’s like to work at the bank and advertising to promote the bank’s products. 2017 will see initiatives grow around the bank’s major objectives which include the recruitment of 2,000 young staff on work-study contracts and 350 on in-company voluntary work assignments overseas.

More on BNPParibas.

This article was first published on The Fintech Buzz.

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Anthony Back

About the Author

About the Author: Anthony is currently a Senior Fintech Analyst at Expert Market Insight and the Director of Content at BreakingFinance, a fintech content creation firm. After spending several years tracking and analyzing technologies and investments at Israel Venture Capital, he now focuses his time conducting research and analysis on the global fintech industry to help startups, financial institutions and finance-related companies develop insightful content. Anthony’s areas of expertise include payments, trading & investing, banking, blockchain and digital currencies. He is also the lead contributor at thefintech.buzz industry blog. .

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