Societe Generale invests in new operating models, adopts new software development methods and transforms information systems, while leveraging big data, open innovation and more open and flexible infrastructure. The Group reinforces state of the art expertise in data management, artificial intelligence and cybersecurity by recruiting the necessary talents.
Séverin Cabannes Deputy Chief Executive Officer
The need for transformation goes beyond digital technology. The challenge is to evolve in line with the world around us, adapting not only to technological changes but also to the new expectations of our clients, current and future members of staff and society as a whole.
Societe Generale’s annual event dedicated to technological innovation, TechWeek took place from 3 to 5 July, 2018 at the Dunes technology hub in Val-de-Fontenay, in the east of Paris, and the Group’s head offices in La Défense. This year’s theme was applying new technologies to banking activities.
Data, a strategic asset for Societe Generale
Today, data is central to customer relations and the Societe Generale Group organisation. In a digital environment, the Bank improves its services to its clients, its risk management, and its operational efficiency, thanks to data use while ensuring its quality, security and protection.
New technologies for stronger cybersecurity
Digital accounts for 86% of our incoming contacts, with 700 million logins per year, mostly from mobile devices. Mobile has been the most-used medium since the end of 2012. This profound change in the bank’s customer relations has heightened the security challenge, which Societe Generale will address by more than doubling its IT budget for cybersecurity and investing in new technologies.
Blockchain is revolutionising the trading process
Technological advances in the trade finance sector are accelerating rapidly, notably with Blockchain technology in particular. Societe Generale is at the forefront of this trend, working on numerous projects such as We.Trade or Easy Trading Connect, developed together with its European partners. Societe Generale is aiming to build an entire ecosystem for trade finance and these tools are a fundamental part of this ambition.
Open source development to encourage innovation
As the embodiment of collective intelligence, open source development is an important driver of innovation for Societe Generale's information systems. It is a strategic commitment that has already produced results, as 80% of the Group's development technologies are open source. Use, Contribute and Attract: learn about the three components of Societe Generale's open source strategy.
Hackathons reinventing the bank
Aiming for strength in numbers, Societe Generale is pursuing the development of its open innovation system and extending its reach to partner communities and their creativity. In this spirit, the bank has organised hackathons and challenges in order to identify projects with the potential to reinvent banking relations for the digital age and successfully transform the company.
The Tech culture within Societe Generale
New technologies are an opportunity to invent new banking solutions and continuously improve the client experience. Innovating on a daily basis is part of Societe Generale’s DNA, and that’s why the Bank is looking for diverse profiles who are ready to become involved in major projects and missions. Staff members who work in IT jobs have their say.
Societe Generale takes 2nd spot in the Digital Champion rankings
Societe Generale has once again been recognised as one of the CAC 40’s top performers in advancing its digital transformation. At the 2017 edition of the eCAC40 Awards, Societe Generale was ranked second among the French top 40 companies that are managing the digital transformation challenge most effectively.
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