Sberbank CIB held a business breakfast called “Transport Industry Innovations”. Its participants included top managers of the largest companies in the transportation and car manufacturing industries, as well as cargo companies, and developers of innovative digital solutions for the industry.
The participants of the breakfast reached the conclusion that the digital economy is posing serious challenges for transport sector companies. The principles of how clients interact with transport infrastructure are completely changing and new strategic requirements for organising logistics are arising. The term TAAS (transport-as-a-service) means moving away from personal ownership of transport in favour of cars-as-a-service – taxis and car-sharing. Given the arrival of the new generation of electric vehicles, the well-established system of energy consumption is transforming. In the future this transformation will impact the use of oil on a global scale. Urban transport infrastructure will also be reformed as areas currently occupied by petrol stations and car parks will be gradually freed up. A domino effect will inevitably impact other sectors. Online logistics services are currently driving digitalisation in the B2B segment.
According to Dave Waiser, Founder and CEO of Gett, although transport-as-a-service accounted for only 5% of global miles travelled in 2016, this indicator is growing by 2-3 times each year. By 2025, the volume of TAAS will equal 20-50% of the market.
“Today, the transport industry is on the verge of a new revolution,” commented Igor Bulantsev. “Modern digital technologies are reshaping business models. Sberbank is interested in searching for opportunities and partners to carry out new economy projects in the transport sector.”
Alexander Bazarov added to his comment, saying: “One of the Bank’s key competencies is risk analysis, including risks related to the transformation of our clients’ businesses as a result of growing digitalisation. Sberbank has the necessary infrastructure and expertise to do this. We suggest that together with us, clients should analyse and digitise the challenges we face and formulate transformation strategies.”
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.