The environment is a market. This is the case, for example, with energy renovation or green finance, which are of direct interest to players in the financial industry.
The latter, like the banks, are however developing other services for individuals and businesses alike. To design these new products, data is central.
Data at the service of the ecological transition
It is with this in mind that Societe Generale, which aims to become data driven, is strengthening its links with namR, a deeptech labeled Green Tech. The start-up has designed a database of 34 million buildings in France.
This heritage is used for various use cases, including energy renovation and climate risk management. In May 2022, Societe Generale also concluded an agreement to promote data in the service of the energy transition of its customers.
This agreement provided for the conduct of experiments and their ramp-up by the end of the year. In 2023, the banking group will participate with the Banque des Territoires in the capital increase of namR to the tune of 4.709 million euros.
This financial operation, through Société Générale Ventures, is accompanied by a commercial partnership. By joining forces with the “leader in Data Intelligence at the service of the ecological transition”, the retail bank plans to deploy a support tool for its customers.
The solution will provide user clients with recommendations and advice based on namR’s expertise. It will also take advantage of deeptech interpretation algorithms. This merger confirms Societe Generale’s ambitions on data and CSR.
New digital products for banks
“CSR issues are at the heart of the new model of the SG bank, with a view to strengthening the positive impact for our customers and our territories”, argues Aurore Gaspar Colson, deputy director of the SG network in France.
SGRF is the group’s new retail banking legal entity since 1er January. It is the result of the merger with the Crédit du Nord network. To steer its Data & IA projects, the bank has a new business department of 250 people headed by Karim Perdreau.
In terms of CSR products and services, Societe Generale notably offers Carbo, a digital carbon footprint solution. However, other banks are developing competing services, such as BNP Paribas.
As part of its cross-functional program to improve the customer experience, the group is designing new routes. In the field of housing, this includes diagnostics and support for energy renovation.
For Sophie Heller, the COO of BNP Paribas CPBS and instigator of PACE, these offers aim to install the bank in a role of intermediary with added value. A challenge for customer satisfaction and also the generation of new revenues.