Bank of the West and L’Atelier BNP Paribas announced on Friday they are now accepting applications for Finlabs, which is described as a program that will join several of the Bank’s business lines with Silicon Valley’s best and brightest startups to collaboratively launch transformative and experience-driven products for customers.
According to the duo, L’Atelier BNP Paribas will match Bank of the West’s businesses with fintech companies to test products directly with customers. Startups benefit from fast feedback and real market experience while gaining full access to the BNP Paribas network worldwide. While sharing more details about the program, Nandita Bakhshi, President and CEO at Bank of the West, stated:
“We are fortunate to be part of a community with some of the world’s most forward-thinking innovators. By expanding our successful Finlabs program, we will further tap into Silicon Valley’s innovative spirit to benefit more of our customers.”
Rena Zuabi, Head of Innovation Programs at L’Atelier BNP Paribas Americas, also commented:
“This program taps the talent and innovative ideas of entrepreneurs to the benefit of the Bank’s customers. We are proud of what the Finlabs program has accomplished within the Bank’s Commercial Banking Group, and are thrilled to grow our efforts across the organization.”
Applications are now open and will be due by mid-May. Following the application period, each of the bank’s business heads will meet with a select list of applicants for one-on-one pitch meetings. Up to 10 pilots will be selected for partnership. The program will kick off in June.