CampX by Volvo Group has expanded its innovation focus areas to include financial technology or fintech, as it helps transform the financial services industry through partnerships and collaboration with startups.
A press release from the Group noted that the move will accelerate the transition to sustainable transport solutions by finding new ways of working with customers and changing how customers can utilise the Group’s products and services.
Citing the examples of insurance tech, or insurtech, the company noted that fintech is furthering transformation within the transport industry, not only changing how customers utilise products and services but also how customers interact with those offers. Moreover, Fintech is also advancing collaboration, connecting stakeholders and enabling them to work more closely together to realise a more sustainable future.
Helene Niklasson, Head-CampX, Volvo Group, said, “The CampX concept has proven itself successful, with strong innovations resulting from the collaboration.” With fintech as a focus area, the company will better support its customers with productivity and sustainable solutions, she said.
CampX is working as the incubator, the accelerator and the venture builder for Volvo Group. 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 over 50 startups as they developed their ideas. CampX focuses on innovation in connectivity, electromobility, automation, sustainability, and now also, fintech.
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