Through digitalization, clients will be able to manage their vehicle purchases independently. This, in turn, will transform the role of salespeople, managers and even the entire distribution network. As providers of financing solutions, our role is now to educate clients on how to become part of the banked population, how to contract the most appropriate financing products and how these will work. Scotiabank is advancing significantly and should be considered a booster of digitalization in the banking segment. More than a year ago we created Digital Factory as a center of technology development focused on digital banking. This area is now in charge of transforming our business from a traditional model to address the mobile world. We take this project seriously and we do not consider it just one more division of Scotiabank.
We might be near the end of the dealership business as we know it and yet we continue inaugurating dealerships every year. We only hope we have the talent and strength to continue listening to our customers. People will always need mobility solutions. However, new developments such as the evolution of electric and self-driving platforms will transform our business. Only one of these technological developments could radically impact how we see our business today; yet they are all coming at the same time in a “technological tornado.” All industry participants need to start planning ahead, redefining what the new distribution model will look like into the future and developing solutions that will solve our customers’ mobility needs going forward.