GOTHENBURG, Sweden, April 13,
2023 /PRNewswire/ -- CampX by Volvo Group
recently expanded its innovation focus areas to include financial
technology, or fintech. Thinking beyond today's offers, fintech is
helping transform the financial services industry through
partnerships and collaboration with startups. This will accelerate
the transition to sustainable transport solutions by finding new
ways of working with customers and changing how customers can
utilize the Volvo Group's products and services.
"Our industry is undergoing a profound transformation, both in
terms of the products we help customers acquire and through
different business models that make it easier for customers to
succeed in their business," said Allen
Atchley, senior vice president, strategy and innovation at
Volvo Financial Services. "With this new focus area under the CampX
umbrella, we have a tremendous opportunity to cultivate new,
disruptive innovations that will not only speed up the transition
to sustainable, fossil-free transport, but also create value for
our customers and the Volvo Group."
Fintech is furthering transformation within the transport
industry, not only changing how customers utilize products and
services, but how customers interact with those offers. A great
example is insurance tech, or insurtech, which is looking closely
at making insurance products more dynamic and easier to access.
Fintech is also advancing collaboration, connecting stakeholders
and enabling them to work more closely together to realize a more
sustainable future.
"The CampX concept has proven itself successful, with strong
innovations resulting from collaboration," said Helene Niklasson, Head of CampX by Volvo Group.
"Now with fintech as a focus area, we will even better support our
customers with productivity and sustainable solutions."
CampX by Volvo Group helps bring innovations to life by building
partnerships with startups to accelerate technology and business
innovation. This work is accomplished in three tracks: the
incubator, the accelerator and the venture builder. The CampX
global innovation accelerator has locations in Gothenburg in Sweden, Bangalore in India, Lyon
in France, and Greensboro in
the United States. Since its
inauguration in 2019, CampX has hosted more than 50 startups as
they developed their ideas. CampX focuses on innovation in
connectivity, electromobility, automation, sustainability, and now
also, fintech.
As the captive finance arm of the Volvo Group, Volvo Financial
Services provides financial services and solutions that fit the way
business works today, while continually innovating to meet the
needs of our changing world. Through a dedication to innovation,
VFS helps customers acquire sustainable transport and equipment
solutions, helping them achieve potential growth while making a
positive, lasting impact on the environment.
April 13, 2023
Journalists wanting further information, please
contact:
Claes Eliasson, Volvo Group Media
Relations, +46 76 553 72 29
For more information, please visit
volvogroup.com For frequent updates, follow us
on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs more
than 100,000 people and serves customers in almost 190 markets. In
2022, net sales amounted to SEK 473
billion (EUR 45 billion).
Volvo shares are listed on Nasdaq Stockholm.
The following files are available for download:
https://mb.cision.com/Main/39/3749884/1980714.pdf
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SOURCE AB Volvo