SocGen makes play to be a data-driven bank
Societe Generale is putting its faith in data and AI to help it transition to, and prosper in, the digital age.
Catalyst – Societe Generale’s open innovation program
Catalyst, a flagship 12-week open innovation program from Societe Generale’s Global Solution Centre in India (SG GSC), brings together enterprise-relevant fintech startups, innovation experts from ecosystem and research oriented institutions under one platform to co-create solutions Societe Generale business leaders for the future ready customer focused bank. The Catalyst 2020 edition provides an end-to-end virtual acceleration.
Société Générale x Didomi: How to ensure user data compliance?
Société Générale is one of the oldest banks in France: it was created more than 150 years ago and ranks 3rd among the largest French banks and 6th in Europe today. The group serves nearly 30 million customers across 60 countries and has hundreds of websites. When the CNIL issued new recommendations in 2021, the bank faced a major challenge: to bring all its websites into compliance and protect its users’ personal data in just a few weeks.
Let’s take a look at the tailor-made collaboration between Didomi and Société Générale with David Temim, Head of Group Data Privacy Project Management at Société Générale and Jeanne Bernard-Loridon, Customer Success Manager at Didomi.
How A Rogue Trader Cost A French Bank $7 Billion
In this video we go over the insane story of Jerome Kreviel. Jerome was a French trader who worked for the investment bank Societe General. He was a rouge trader who place tens of billions of dollars worth of unauthorized trades on the bank’s behalf. He was eventually exposed in 2008 when his trades netted the Bank a $7 billion loss. Societe General claims Jerome was working on his own as a rogue trader and they knew nothing of his trades. However, this story seems rather implausible as he made more than $1 billion worth of profits in the year prior to being exposed. Jerome says he was trading with the consent of his supervisors and the bank only claimed ignorance to use him as a scapegoat for the loss.
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Ep 58: Julien Molez from Société Générale’s on Creating Value-Driven Data Framework
At French bank, Société Générale, providing the best customer experience in the modern digital world means rethinking everything about banking, including its corporate structure. Three years ago, Julien Molez, joined the bank’s leadership team to become the first Innovation Data & AI Leader. On this episode of The Data Chief, Julien addresses changes sweeping the banking industry, including higher customer expectations, tougher regulations, and the ESG revolution. He also reminds us that at the end of the day, fancy AI models and algorithms will only perform as well as the data that goes into them.
01:03 Reasons to create the Data & AI Leader Role in the Innovation Department
03:31 Julien’s role compliments that of the bank’s CDO
06:31 Creating a value-driven data framework
15:29 How do you achieve customer personalization while adhering to GDPR?
20:29 How do you truly secure data at all touchpoints?
23:44 How is Société Générale leading in ESG reporting?
28:55 What were Société Générale’s unique challenges in scaling up AI use cases?
35:56 How do you educate business stakeholders about the best data possibilities?
40:00 What is a key data framework technique?
43:27 Lightning Round
Get even more insights from data and analytics leaders like Julien on The Data Chief. https://www.thoughtspot.com/data-chief
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