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BNP Paribas and EY explore private blockchain

First Published 17th October 2017

BNP Paribas ALM Treasury and EY pilot demonstrates the feasibility of using blockchain to optimize the global internal treasury operations of the bank

The ALM Treasury department, which manages the bank's internal treasury, at the service of all three operating divisions of the Group, has carried out an internal blockchain pilot.

The pilot demonstrates how an internal, private blockchain can be used to improve operational efficiency by providing a more integrated cash management approach between businesses, allowing greater flexibility and a 24/7 capability.

The pilot program, conducted with EY, marks a milestone in using blockchain-based solutions as a practical and innovative approach to respond to a business-driven need, in particular extending the working hours up to 11 hours. This allows treasury optimization improvements, and a common view of liquidity positions across locations. It also allowed the bank to improve the interoperability of the legacy systems combining the private blockchain with the existing IT environment via software robots and APIs.

The research project is part of a larger group of initiatives conducted by other entities of the bank regarding blockchain for example the Cash without Borders launched this year.