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Treasury Strategy & Transformation
Published  11 MIN READ

Solving Treasury Pain Points Through Co-creation

Despite huge advances in technology, treasurers are still grappling with fundamental issues in their everyday workflows. Buzzwords alone are not enough to solve challenges such as painful account opening processes or the growing risk of payments fraud. This is why BNP Paribas is co-creating with its corporate clients to leverage the latest treasury technologies to deliver concrete solutions that solve today’s treasury headaches, while preparing treasurers for the future operating environment.

Auguste Rodin, the French sculptor famous for works such as ‘The Kiss’ might not have obvious links to the world of treasury. But BNP Paribas’ latest European Treasury Board session, bringing together almost 50 treasurers from across the continent, kicked off with a tour of the Rodin museum in Paris – and in fact there were many lessons to be learned about co-creation.

Some of Rodin’s best work was done in collaboration with one of his assistants, who later became his mistress, Camille Claudel. She sculpted the hands and feet of figures for some of Rodin’s monumental works, notably ‘The Gates of Hell’. Claudel was also inspired by Rodin to create her own sculptures, and the two fed off each other in a creative partnership.

As Pierre Fersztand, Global Head of Cash Management, Trade and Payments, BNP Paribas pointed out, this partnership approach is, “Precisely the aim of the BNP Paribas Treasury Board, bringing sharp minds from the corporate and banking spheres together to come up with innovative yet practical solutions.” Working together ensures that any solutions directly address real treasury pain points, since corporates are directly involved in creation and testing of innovations – with the bank appointing corporate ambassadors to each co-creation project. This approach ensures that solutions remain relevant and practical, and are actually what corporates want and need, not just innovation for innovation’s sake.