This approach originated in the IT world, where collaborative practices are the norm. But it later expanded across the entire high-tech sector, industry (especially automobiles), energy, health and pharmaceuticals. It is also encouraged by public systems, like competitive clusters, which promote collaboration between public research and industry, or financial incentives (France's Research Tax Credit, which provides benefits to companies that outsource a portion of R&D, as well as grants awarded for hiring doctoral researchers through research programs with public labs, etc.).

Public services have even hopped on the Open Innovation train, including the SNCF, RATP and La Poste. As have banks, in order to support their 'digital transition.'

In fact, 'traditional' banks must adapt rapidly to changes in the market, driven simultaneously by 'pure players,' new technologies, new regulatory constraints and evolving consumer expectations.

In short, new security rules, the democratization of the Internet, the expansion of mobile, the arrival of connected objects and Big Data and the increasing speed of exchange have all forced banks to innovate.

BNP Paribas SA published this content on 11 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 August 2016 16:02:03 UTC.

Original documenthttps://group.bnpparibas/en/news/open-innovation-banking

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