The convergence of 2 business models
Telecommunication and financial services have similar challenges; both are impacted by digitalization. With every challenge comes opportunity. o2, Telefónica Deutschland recognized the value of listening to customers and embracing their digital culture becoming part of their customers lifestyle. The millions of existing customers that have a trusted and privileged relationship with o2, Telefónica Deutschland, are a key asset that many organisations would love to have. This encouraged o2, Telefónica Deutschland to extend its business model beyond normal telecom operator bounds and offer customers the opportunity to obtain essential services from the provider they already know and trust. Banking was a natural choice.