Mobility-Talks | Will old world assets be the new world unicorns?

Mobility-Talks | Will old world assets be the new world unicorns?


Coming right to the topic,
Are our traditional banks and financial services companies,
able to survive with this increase in the FinTech world?
We observe this since several years
that there are FinTechs so-called startups,
developing new businesses and going
directly into this customer interface.
You can see it as a threat,
on the one hand for the old companies.
I see it more as competition
and competition is always good.
If you want to have an optimistic view
on Daimler mobility.
I`m tended to say that they are a Neobank.
Although they are old.
But Autobanks have always been at the forefront.
But there is a plus because they have
the automotive company in their back.
One is, it’s always about cost nowadays.
So they are very low cost, no branches,
everything digitalized, no legacy systems plus customer centric.
And that means understanding what clients and
banking want, and that’s probably the
same also the mobility: Convenience!
That’s exactly what we are doing at
Daimler Mobility since several years.
Completely digitizing our core business,
you can see legacy systems.
And we’re harmonizing them in that respect
because we’re building one IT platform,
we’re harmonizing it on a worldwide base.
The one is the online business,
you can say this is 25% this is 20 or 30 % in several years,
we will see how the customer is acting.
On the other hand, what is important already today,
is that the customer is having the convenience
in easy doing business.
Payment methods, vehicle usage – I guess if
we look at the future, coming back to what you said.
How is Daimler Mobility going to capitalize on that data,
knowing that we also have a range of
services just beyond the financing of the vehicle?
We are investing a lot into this data pool,
how we can capture this data.
We have built up an own cloud service,
we have built up own technology teams,
just looking into this data piece, because
at the end what we want to achieve
how can we enlarge this ecosystem about our core,
financing and leasing, which is
a very stable and profitable business.
What makes customers loyal, there are many surveys.
And at least from financial services,
we know that it’s four key factors.
One is time-saving,
plus the second one, convenience,
the third one this is special to financial services
and this might be a nice combination is.
We call it piece of mind,
and the last one is quality.
Let me point out two things, furthermore.
One thing, it’s important that,
on the data side, and everybody is talking about this.
We have a certain responsibility when it comes to data,
we have a very high emphasis.
What we are looking for is data governance
and what we’re doing with the data.
We talk about, as Daimler Mobility,
the aspiration of mobility at your fingertips.
So we all have iPhones or some type of smartphone.
Payment is a part of that.
What are the developments that Daimler Mobility
pertaining to payment services,
because you already mentioned those a little bit.
We have developed the last 12 months our platform.
We’re with Mercedes Pay, this is our brand,
now live in already 34 countries worldwide.
So our connectivity services, for example,
for in-car payment are already connected.
Coming back to our original questions.
Will old world assets be the new world unicorns?
A professor of finance and investment strategy.
Would it be to continue to invest in this company with this heritage?
In the financial services industry, especially in retail banking,
all the players are seeking for
this combination of being close to the client,
having a strong brand along traditional brand.
Because this also gives peace of mind
at the same time being quick and agile.
At least you have the great potential
of combining it into this neobank+.
We have a very strong core business which we developed.
We’re transforming this core business
into this new age with the digitalization based on technology.
We have the possibility with all our new services.
And I’m convinced because
I’m working there now for six, or seven years,
I think that the team is just fantastic!

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