BNP Paribas, other French firms to open innovation hub for Brazil startups [Reuters (UK)]
EDENRED SA UNSP/ADR (EDNMY)
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Source: Reuters
BNP Paribas, other French firms to open innovation hub for Brazil startups - Reuters 3 Min Read SAO PAULO, Jan 23 (Reuters) - France’s BNP Paribas is joining forces with three other major French companies to set up an innovation center in Brazil to foster startups accelerating digital transformation and help the bigger firms become more efficient. Based in Brazil’s richest city, Sao Paulo, the 1,000 square-meter hub, called La Fabrique, will be shared with Carrefour Brasil SA, pre-paid meal vouchers and card provider Edenred and financial transaction systems developer Ingenico Group. “We are looking for startups that may help BNP gain efficiency,” BNP Paribas Chief Executive and country head Sandrine Ferdane told Reuters in an interview. “As lower interest rates globally reduce margins, efficiency is key.” She said the lender aims to conclude at least eight projects in 2020, two for each of BNP’s Paribas’ four business sectors: fleet management unit Arval, retail banking arm Cetelem,
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