BNP Paribas enhances global custody client experience with NGL launch
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BNP Paribas enhances global custody client experience with NGL launch 05 June 2020Paris Reporter: Maddie Saghir
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BNP Paribas Securities Services is enhancing monitoring and oversight of operations for global custody clients with the use of Natural Language Generation (NLG).
As part of its digital transformation programme, BNP Paribas Securities Services will use NLG to transform large amounts of structured global custody data into concise and insightful commentaries.
Along with traditional monthly statistics reports on their operations, BNP Paribas clients will receive analysis and commentaries on their assets under custody, settlement, corporate actions and income activities.
The bank explained that this one-page executive summary, written in natural language, will alert clients to unusual patterns and highlight areas for improvement and best practices, allowing for enhanced oversight, controls and operational efficiency.
The solution will be deployed globally, starting with France, Germany, the Netherlands, Spain and the UK.
Christelle Ybanez, head of asset owners and asset managers strategy and planning at BNP Paribas Securities Services, said: “Leveraging Artificial Intelligence technology, our NLG report summarises hundreds of pages of data into easy-to-understand key trends and recommendations. This will provide our clients with insightful analysis on the wealth of data generated by their operations, helping them enhance oversight and efficiency across multiple markets.”
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