Interview with: Ramon Fernandez,
Deputy CEO, Group Chief Financial and Strategy Officer, Orange
''Trust is a key asset in an ever more complex and digital world.''
Why are trust issues at the heart of conversations today?
Perhaps because it has become so rare! We are in a crisis of confidence, which is global and extends across the whole society, beyond the economy. Today, in Europe and in our industry, many people do not trust our ecosystem players with their personal data that they nevertheless share everyday. More and more services are fully dematerialized. A number of very large digital actors are not present in the physical world, have not set up physical shops and a growing share of customer relationships is performed by robots ... If data is the fuel of our digital world, trust is essential to succeed in the long term.
Is the « trusted third parties » notion – which is often extended to telecom operators, still meaningful?
More than ever in our digital world, we are operating in an increasingly open, fragmented and dynamic environment; it is more and more important to have reference points. With the rise of new digital players, trust is built through new and evolving markers, it becomes distributed: for example a sum of other users’ insights about an apartment on Airbnb or about a car on Drivy, or the blockchain algorithm... More than a "trusted third party" strictly speaking, customers are looking for a truly trusted partner. Orange wants to play that role.
What role does the Orange Mobile Banking project play in this positionning as « trusted partner »?
It is based on the "trust capital" we have built and earned over time with millions of customers around the world, that Orange can today be legitimate to manage its customers’ money. It is also its credibility in terms of innovation, which means that Orange is expected to offer a new and fully mobile banking experience. Finally, it is an opportunity to leverage our experience in Africa where we have 20 million Orange Money customers. So there is a real logic for Orange to launch its own financial services and we are doing it in partnership with Groupama.