Accelerating the digital transformation
One of the cornerstones of Crédit Agricole CIB’s strategic plan is the digital transformation and providing an enhanced experience for clients and employees. To achieve this, the Bank has mobilised a large number of contributors from all its business lines to create and implement a large-scale digital transformation programme able to fulfil its ambitions and those of the Crédit Agricole Group. These digital ambitions are comprised of five categories: client service, digitalisation of its information system, enhanced efficiency, the employee experience and innovation.
A client-centric digital transformation
Our Bank is committed to using digital technology as an essential driver in our client relationships to distinguish us from our peers.
The Optimall portal, which offers centralised, secure digital access to Crédit Agricole CIB’s services, is already acknowledge by clients to effectively address their needs through practical and pragmatic means, streamlining their interactions with the Bank. Initially focused on client service, Optimall is gradually extending its offering to transactional services, including trade finance and cash management.
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Digitalising the information system
The digitalisation of the information system is a priority for the transformation programme, with a specific focus on data, APIs, the use of cloud technologies (private and public) and artificial intelligence.
For example, the AI Factory is a team dedicated to artificial intelligence, coordinating business line and IT teams to identify and deploy use cases quickly and efficiently. Nearly 70 use cases are currently in production, addressing challenges such as anticipating client requests and suggesting prices to our sales teams. We have also set up a generative AI approach to explore new possibilities for supporting and improving our businesses.
Efficiency to serve the bank
Improving our efficiency is also an important part of our digital transformation. For example, the Global Pipeline project will transform the Bank’s opportunity management (credit and advisory) for the Coverage, business line and Executive Committee teams. The target pipeline can also be used to easily demonstrate the Bank’s selectivity regarding opportunities.
Another example is an automation solution using RPA, with several hundred robots in production within the Bank.
Lastly, a significant portion of Crédit Agricole CIB’s IT investment portfolio contributes to improving operational efficiency by revamping processes and digitalising them.
A smoother and more digital employee experience
In 2023, the Bank continued to roll out Microsoft Teams across its entire network, providing a unified experience for our employees. This global platform also simplifies communication with all Crédit Agricole Group entities. A more advanced version based on collaboration is currently under development to support the Bank in digitalising its business lines and operational methods, ensuring efficient interaction and collaboration with contacts.
To facilitate staff mobility and client relations, a new and more powerful mobile phone is also being rolled out with new applications, including access to Microsoft Teams throughout all the Bank’s regions. Finally, self-onboarding was introduced at the end of the year to ensure that the new employees and service providers arrival experience is as seamless as can be.
Promoting innovation
Crédit Agricole CIB has been investing in innovation for many years now. Below are some of the initiatives carried out in 2023:
Internally, the IDEACT ideation campaign generated over 200 ideas on the theme of sustainable development and responsible innovation. Fourteen ideas were selected to be sponsored by the Bank.
Externally, the Bank regularly took part in events focusing on the latest technologies and attended key industry trade fairs such as Viva Technology and the Singapore Fintech Festival.
Thanks to technologies such as blockchain, one initiative we rolled out was the tokenization for green financing. Another example is the joint launch by SEB and Crédit Agricole CIB of so|bond, an “open and sustainable” platform for bonds. Through this platform, issuers on the markets will be able to issue digital bonds on a blockchain network, improving efficiency of use and enabling data synchronisation between participants in real time. The blockchain network uses a Proof of Climate awaReness (PoCR) validation protocol that encourages participants to minimise their environmental footprint.
In collaboration with Pasqal and Multiverse Computing, two leaders in quantum computing, Crédit Agricole CIB carried out two experiments in the field of finance. Using an algorithmic approach inspired by quantum computing, the partners were able to demonstrate the potential and benefits of quantum computing in the valuation of financial products and the measurement of credit risk.
