BNP Paribas plans to shorten real estate credit with AI
As part of an interview with Echos, Sébastien Perrigault, director of the field of financing to individuals at BNP Paribas, just revealed how Artificial Intelligence would soon be integrated into the bank's real estate credit subscription path. The goal? Accelerate processes, for the simplest files in any case.
FACTS
BNP Paribas has unveiled its new AI-based tool, fully built and developed internally. This is a solution that is integrated directly into the current banking advisor software, which reduces the costs of distributing real estate loans by automating certain tasks.
The tool should therefore make it possible to move the current subscription path to a real estate credit, one of the longest banking processes, to a fast route for the customer and easier to manage for advisors.
In concrete terms, the scope of the tool lies between customer agreement and the publishing of the offer in electronic format. The time between the two steps is currently 12 days and should increase to 6 days thanks to the tool. For the simplest files (20% of files), this time could increase to 3 days.
The solution allows you to download all the documents required for the real estate loan agreement. These documents, sales promises, payrolls, or tax notices are analysed by the AI according to a model of NLP (Natural Language Processing). Errors or inconsistencies are referred directly to the advisors for modification.
At the moment, the benefits seem to be rather positive as the bank estimates that each employee earns about half an hour per credit file.
ISSUES
Accelerate credit: BNP Paribas' new objectives regarding the deployment of artificial intelligence in the real estate credit agreement processes are an example of how technology can be adapted to accelerate processes and improve banking and financial services.
Continue a relevant deployment: BNP Paribas today presents an innovative and highly relevant case for the integration of artificial intelligence technologies into banking processes and services. This announcement follows the Bank's commitment to did Indeed, the update on the deployment of AI to its structure last October. This case is one of the 800 cases already in production according to BNP Paribas, which targets 1000 by the end of the year.
Support for repetitive tasks: The bank shows a relevant use of AI particularly in compulsory but low value added tasks. Using the tool, bank advisors will reduce the time spent on document control to focus on more productive tasks or more files at the same time.
PERSPECTIVE
- BNP Paribas' announcement is logically taking place while the French bank has invested in the deployment of artificial intelligence technologies in banking services ahead of the trend. She Marked In particular, by announcing its partnership with Mistral AI in July 2024, in order to integrate models of the French reference of artificial intelligence into all its professions.
- BNP Paribas' mobilisation is obviously not unique in the French and international banking market. Many players are now seeking to pull their pin from the game by multiplying initiatives like the Spanish Bank BBVA. The latter included AI in its marketing and legal processs last January, after announced its intention to use AI on a large scale.
- In any case, projects are accelerating on the subject of artificial intelligence and take different forms in the banking market. Recently, Société Générale announced for example, a new entity dedicated to AI in France. In Spain, Banco Sabadell preferred Open a new financial innovation laboratory with NTT Data (including focusing on AI topics). As for DBS Bank, its CEO recently admitted that AI would participate medium-term downsizing.
Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate