Financial services firms Bank of the West and BNP Paribas have joined US-based accelerator and venture capital fund Plug and Play Tech Center as corporate partners.
The banks will also become part of Plug and Play’s Financial Technology Innovation Platform and will look to leverage the alliance by scouting and engaging with fintech startups taking part in the scheme, monitoring new technology and taking part in learning expeditions.
Dan Rosenbaum, senior vice-president of corporate development for Bank of the West and its head of innovation, said: “Plug and Play’s global fintech ecosystem will provide new opportunities for us and our customers, and give us an efficient way to identify and work with the companies that are changing our business.”
Valérie Eymard, head of digital and innovation at BNP Paribas International Retail Banking, added: “We are part of the evolution taking place in our industry towards digitalisation.
“This transformation only increases our enthusiasm for new ideas as we focus on providing innovative approaches to products and services to our customers around the world. Partnering with Plug and Play is a milestone in co-building the bank of tomorrow.”