BCPE Group announces its innovation plan BPCE 2024 to accelerate its digital transformation

BCPE Group announces its innovation plan BPCE 2024 to accelerate its digital transformation

Over the past twelve years, the BPCE group has undergone a profound transformation. However, no period has acted as a revelator and accelerator of the trend than the one linked to the health crisis due to Covid-19. On 8 July, the joint body of the Banque Populaire and the Caisse d’Epagne Française presented its ambitious development plan, in line with “the transformation of society”. This plan focuses on a reorganization of its IT sector as well as on consequent investments around data.

The BCPE 2024 plan to continue and accelerate the group’s transformation

For Laurent Mignon, Chairman of the Management Board of Groupe BPCE:

“The crisis we have just gone through has acted as a revelation and accelerator of trends, with which our Group, thanks to its multi-entrepreneurial and decentralized cooperative model, is perfectly in tune. It is these trends that have guided our major choices, as part of the development of our new BPCE 2024 plan, to turn them into areas of conquest in sectors such as healthcare, energy transition, insurance and set our commitment to the climate, based on a concrete and measurable action plan.”

The Chairman of the BPCE Group’s Management Board went on to outline the project:

“This ambitious plan also relies on the formidable capacity of our teams to commit and deliver value for our customers and members. To achieve this, we will simplify the Group’s organisation and IT systems and use innovation to achieve the ambitions of our new strategic plan, particularly with regard to data and the future of work. Finally, we are setting ambitious targets both in terms of growth and in financial terms.”

Three strategic priorities: climate, customer, conqueror

The BPCE 2024 plan is built around three strategic priorities:

  • Conquering by accelerating development: five priority areas with a target of additional revenue of around €1.5 billion. Two growth drivers with societal challenges: environmental transition and health. Two key activities to accelerate, sources of value creation: non-life insurance and consumer credit. A customer market to be developed: mid-sized companies. Accelerate international development through the global businesses: Asset and Wealth Management and Global Customers.
  • Offering clients the highest quality of service: A “3D” relationship model guaranteeing the best client experience in local banking: trustworthy, Digital Inside, useful data. A pragmatic and local approach to branch networking. NPS targets by 2024 for all the Group’s business lines and companies.
  • Make climate change a priority for all the Group’s businesses: Align the Group on a “Net Zero” trajectory. One of the first banking groups to set short- and medium-term milestones for achieving this alignment. Development of measurement and management tools for all the Group’s portfolios. Supporting all clients in their environmental transition.

Three lines of strength: simple, innovative and secure

The plan is also based on three lines of strength:

  • Simple: A simpler and more readable Group organisation, simplification of the IT organisation, acceleration of the transformation of banking services.
  • Innovative: A change of scale on Data and the development of open banking, an acceleration in payments to accompany the digitalisation of commerce, the future of work, the basis of HR innovation.
  • Secure: Ambitious economic performance targets and a long-term financial strength, confirmation of the current risk appetite framework, enhancement of the function of trusted third party vis-à-vis customers.

Translated from Le groupe BCPE annonce son plan d’innovation BPCE 2024 pour accélérer sa transformation numérique

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