IFS.alpha was launched in 2017 with two main objectives: to create new financial and non-financial products for our clients and kick-off a new approach to work at BNP Paribas.
It’s an approach that promotes audacity and entrepreneurial frugality; one which tests products with real end-users and embraces continuous improvement; one which prioritises product launch in the shortest timeframe possible.
IFS.alpha aims above and beyond the lab phenomenon. It delivers products and services that respond to the requirements of individual and corporate clients, respect both local and international regulations and in line with BNP Paribas group’s ambitions. IFS.alpha is all about building MVPs that can be taken to market.
In fact, IFS.alpha is so much more than a transformation programme or an incubator: it’s an adventure. One that takes up the challenge of creating useful products that are ready to adapt to market changes and delivered to clients within 6 months. All this, while experimenting innovative approaches to work.
This adventure began when the IFS.alpha team launched a call for ideas as part of a challenge open to International Financial Services’ (IFS) employees. IFS groups together 6 activities: international retail banking, credit solutions to individuals, insurance, private banking, real estate and asset management.
Selected projects were incubated for 6 months at the BivwAk!, teams adopted the ‘IFS.alpha mindset’ and applied methodologies that were new to them: Agile, Lean Start-up, multidisciplinary teams, Public Cloud…
6 months later, 7 MVPs were produced and integrated into IFS’ operational entities. Today, IFS.alpha teams provide remote support to these teams in their operational phase.
#Season2 is on track!
1 year later, IFS.alpha launched a second season and this time around, incubates 6 new products, while capitalising on first season’s learnings. The major difference is that 50% of the solutions being developed come from IFS entities: so in our lingo, we talk about ‘top-down’ (versus ‘bottom-up’ projects that come from budding intrapreneurs through the IFS.alpha challenge platform).
IFS.alpha is broadening its horizons: beyond new product creation, the incubator partners with operational entities to achieve their strategic and business objectives. Today, this partnership is embodied by 4 fields of expertise: Tech, Delivery, Business Development & Growth Hacking and Change & Performance.
How do these teams work during their 6-month incubation? Find out in our latest article!