Watch this series examining top tips from leading innovators in the financial industry on how to make innovation a success. This week: Interview with Sebastien Nunes, BNP Paribas
“Intrapreneurship, the act of behaving like an entrepreneur while working within a large organisation, is a golden nugget for every large financial institution. We should invest in it, develop it and believe that our employees are our biggest assets,” says Sebastien Nunes, Head of Innovation and FinTech at BNP Paribas Securities Services.
Over the past twelve months, BNP Paribas Securities Services has put in place an innovation process that covers the inspiration phase through to the growth phase. This innovation flow is based on three 'values' including: a focus on disruptive and value-added innovation; to innovate with purpose and a clear connection to growth strategy; and the belief that employees should be considered as intrapreneurs.
We are responsible for our future, if we take action it will change. If you wait for the world to change by itself, you will wait for a long time.
“We want our employees to run and lead the projects of their own 'startups', albeit internal ones. As a result, they feel empowered and give a lot of energy. We have subsequently built a crowdsourcing platform providing all employees the opportunity to present projects and receive support from peers, whether that be in the form of resources, time, budget or client feedback,” explains Nunes. “The feedback has been really positive. We have discovered incredible internal talents who have generated amazing collaborative participation. We have not only decided to go ahead and implement the innovation process in Europe, we also roll it out in Asia and the U.S. by the end of 2016.”
We are at the beginning of a new financial world and it is up to us to change it and to act if we want to have a better, more responsible, efficient and client-orientated financial world.
Nunes advises that a successful innovation project means getting the right people involved at the very start, including those responsible for overseeing product development, product management and budget. Buy-in from top management is key, as well as the implementation of startup methodologies. But at the real heart of innovation are the people. “If we care about the evolution of people and help them reach their talent potential, they will end up doing amazing things,” emphasises Nunes.
Read related interviews:
- Scarlett Sieber, Senior Vice President and Head of New Digital Businesses, BBVA
- Nigel Dobson, General Manager of Transformation Projects at ANZ
- Claire Calmejane, Director of Innovation & Digital Centre of Excellence, Lloyds Banking Group
- Saket Sharma, Head of Treasury Services Technology at BNY Mellon
- Eiichi Kashiwagi, General Manager of the Digital Innovation Division at the Bank of Tokyo-Mitsubishi UFJ (BTMU)
- Genevieve Douhet, Associate Director, Group Innovation Department, Societe Generale
- Rob Palatnick, Managing Director and Chief Technology Architect at the Depository Trust & Clearing Corporation (DTCC)
- Christophe Chazot, Head of Innovation, HSBC
- Tim Bosco, Senior Vice President at BBH
- Angus Scott, Director, Product Strategy and Innovation, Euroclear