Integrated Report 2020-2021

2. Meeting the challenges of tomorrow

Responding to the acceleration in new customer expectations

Customer uses are evolving...
  • Key values: trust, loyalty and transparency
  • Services that are instantaneous, easy to use, omni-channel, and free of charge are sought after
  • Desire for a personalised approach, relevance and proactiveness
  • Security and use of personal data
  • Increase in consumers’ power over brands
... or have become amplified with the Covid crisis
  • More and more customers have been shifted to digital, but while maintaining close support
  • Expectations of greater commitments from banks with respect to three aspects: purchasing power/inclusion, protection (notably security of data) and environment
OPPORTUNITIES
  • Positioning as an omni-channel bank with empowered teams for customers
  • Diversity of expertise and Group business lines
  • Adaptation and enhancement of offers, including non-banking offers, to respond to the new uses and providing a complete solution at all stages of life
  • Capitalisation on the Group’s ethics in data usage and the soundness of IT systems to guarantee the security of data
RISKS
  • Decrease in branch traffic
  • Ability to prioritise customer uses in the transformations
OUR ACTIONS
  • Implementation of Linxo, a solution for aggregating bank data and initiating universal and secure payments
  • 17% increase in the monthly users of the Group’s apps (vs. 2019)
Multi-faceted competition
  • Possible acceleration of the transformation of the European landscape
  • Presence of new players and diverse models: aggregators, Fin Tech companies, GAFA, other industries, etc.
  • Technological changes and the emergence of open banking, securing the sharing of data
  • Growing number of participants in the value chain
  • New fee models (freemium, low cost) that increase pricing pressure on the offers
OPPORTUNITIES
  • Differentiation and retention thanks to excellence in customer relations
  • Role of trusted third party
  • Use of new technologies and artificial intelligence for a better customer experience
  • Development of commercial and distribution partnerships
RISKS
  • Emergence of new competitive challengers
  • Disintermediation (customer relationship, payments, data, etc.)
  • Fragmentation and unbundling of offers and limited opportunities for cross-selling
  • Agility and transformation challenges of our IT systems
OUR ACTIONS
  • Launch of the mobile app Blank, a professional account and an administrative and financial area, specially designed for independent workers
  • Time savings in the recognition of insurance claims documents thanks to artificial intelligence
Main SDGs* concerned

* Sustainable Development Goals.