Société Générale - Digital Transformation Strategies

Société Générale - Digital Transformation Strategies

Summary

This report provides insight into Société Générale's fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Société Générale is a financial services group headquartered in France. The group’s operations include retail banking, private banking, corporate and investment banking, insurance, securities services, and credit. The French Retail Banking division includes Société Générale, Boursorama Banque, and Credit du Nord. The International Retail Banking division offers financial services to corporates in Russia, Africa, and Eastern and Central Europe. The Global Banking arm offers integrated financial solutions and expertise in key international markets. Société Générale’s product offerings include savings accounts, insurance, payment cards, deposits, financing, equities, fixed income and currencies, and alternative investments. The group operates through a network of branch and representative offices and online portals that cater to individuals, commercial organizations, SMEs, high net worth individuals, and wealthy family clients. Société Générale operates in Europe, the Americas, Africa, and Asia-Pacific.

Scope

• Société Générale is leveraging data and AI to enhance processes, personalize customer experiences, and improve decision-making. It aims to become a data-driven bank, with capabilities such as building a comprehensive group data, utilizing real-time indicators, and deploying predictive machine learning (ML) for customer personalization and automation.
• Société Générale is actively collaborating with digital trade finance platforms and fintechs to drive digital transformation. For instance, the company partnered with the Komgo digital trade finance platform to streamline operations by facilitating straight-through processing.
• Société Générale implemented the Human-Centered Design center of excellence with the objective of leveraging its employees’ skills in design thinking and prototyping. The intention is to build products and services that optimize the experiences of both internal staff and customers. 
• Société Générale is adopting open banking strategy to meet evolving client expectations. This involves partnering with innovative entities and using application programming interfaces (APIs) to open up its IT systems, ensuring security, compliance, and regulations are upheld.

Reasons to Buy

• Gain insights into Société Générale’s fintech operations.
• Gain insights into its fintech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, and investment strategies.