Transaction banks are sitting on piles of client data that could reshape the business of banking, according to one of the leading players in the European market.

"Managing the flows of our clients generates a lot of data, and we know that the future of most industries is data," said Jacques Levet, who has been running transaction banking for French bank BNP Paribas across Europe, the Middle East and Africa since early 2015, his latest job in more than a decade at the bank.