BNP Paribas targets millennials with Snap partnership

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BNP Paribas has entered a global partnership with Snap Inc in an effort to acquire more millennial employees and better understand how to interact with the millennial generation.

Like many banks, BNP Paribas views millennials as a strategically important customer group for retail banking products and services in the future. The global financial heavyweight released details of a plan to boost spending on digital initiatives by 50% to 3 billion euros ($3.3 billion).

Snapchat’s potential in the social and mobile fields is widely known and respected. The company’s smartphone app now has a community of 158 million daily users who view over 10 billion videos and exchange over 2.5 billion snaps worldwide every day.

Bertrand Cizeau, BNP Paribas Group Head of Communications, stated:

“This strategic partnership builds on the momentum which began several years ago within the digital media ecosystem. Our challenge is to be present where our core target is while simultaneously speaking the same language as millennials, the new generation. They are our future co-workers and future clients.”

Emmanuel Durand, Snap Inc., General Manager, France, commented on the new partnership, saying:

“We are proud of the partnership with BNP Paribas and delighted that we are strengthening our collaboration around Snapchat’s potential and our creative solutions. Together we will seize opportunities that will enable BNP Paribas to cement its position as the go-to bank for millennials.”

BNP Paribas has maintained an active presence on Snapchat over the past year. The company is featuring its employees in short videos that show potential recruits what it’s like to work at the bank and advertising to promote the bank’s products. 2017 will see initiatives grow around the bank’s major objectives which include the recruitment of 2,000 young staff on work-study contracts and 350 on in-company voluntary work assignments overseas.

More here [BNPParibas]

This article was originally posted on TheFinTechBuzz

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