Ming Maa of Grab on the rise of super apps

So let's talk about that super app strategy. I mean you are, you know, to, to think about it in our context, you're trying to be uber and doordash and Paypal all at the same time. Why does that make sense? Why is it important to bring financial services and and uh food delivery, e commerce delivery and ride hailing all into one place? Yeah. Well first of all those are great comes to be compared with them. So we're very comfortable I think super perhaps have their origin in china. The journey of super abs in southeast Asia has taken a very different path all by itself to reach out. As you know, started with messaging. Ali pay started payments. We really focus on solving everyday problems that were really endemic across traditions in our case that was about solving safety and transportation. That's what really helped us build the largest driver network in the region and it's this large on demand network is from korda how we've expanded our super app ecosystem because we're able to now leverage this network to move not just people but also food e commerce packages and now even push trees and all of these grew as natural adjacency to our start and along the way we we launched the region's largest digital payment's rails to enable transactions in the digital economy. And keep in mind we're operating in a region where cash is still king. Banking penetration is very low critic hard adoption is 10 and just like in financial in china we've identified opportunities to drive financial inclusion and make financial services much more affordable to the middle and the part of part of the pyramid. The analogy I like to use is it's like the small tubes of toothpaste, you know, toothpaste manufacturers started reducing the size of the two for about eight ounces in the U. S. To two bounces and developing markets to make it more affordable. Now we're doing the same thing in financial services by fractional izing products, micro insurance, micro saving, micro lending. But talk about that. Yeah, talk about that a little go go into that a little bit deeper because it's not clear, it's not clear to me that I would ever want to get financial services or insurance from my Uber driver or my door dash delivery person. So why explain why in the southeast asian context. That makes sense. Yeah, particularly made our countries when you're looking at banking penetration, that's less than 40%. So less than four in 10 to a bank account Where credit card penetration is one intent the opportunities to access the same products that you and I may be somewhere with in new york in Singapore just simply aren't available. And so when you come into the market and introduce a very affordable product that now everyone can access even if they jumped the bank account, that's how you unlock the water part of it puts a high premium on trust. I mean, yes, sure. I want to be in an Uber where I trust my driver and I want to my door dash delivery person to be someone I trust but the people who are doing my banking and selling me insurance that really requires trust. What do you do it grab to establish that level of trust? Well it's a great question. It all started with our D. N. A. Which is the first problem that we're solving was around safety and transportation. So we wanted to collect 10 years ago if you were taking a taxi in Poland poor you probably wouldn't have felt very safe or secure. And so solving that safety issue, if you trust grab, take you from a to B. Financial services is one next extension of that. Don't trust secure point in countries like Singapore, we have now received a digital bank license which provides regulatory book site over the visual thinking business that we're launching that again creates additional levels of trust in ourselves as a financial services operator. You're a company that takes your purpose very seriously. Can you talk about that? Why and what it is absolutely grab really was founded on the principle of creating a true double bottom line, both economic progress and social impact. And having looked at a lot of companies now there's no question in my mind that there is not a more mission driven company that grab, you know, for our for ourselves, our mission for all grabbers that drive economic empowerment and again particularly for the bottom half of the population pyramid. And it's not a CSR, it's not an E. S. G. Tagline drafted by someone illegal Pr this is court, it's it's much more than just how much do our drivers earn. It's about up skilling and training, because that's the key to being sustainable and a great story. You know, we offer certified courses and digital literacy in partnership with Microsoft. In fact, we've issued more than half a million certificates to our tribal partners who may have previously been in construction or the grain markets. And we ended up even hiring one of our drivers as a software engineer at grab after he completed training. So those are the real up skilling opportunities and our our mission does guys everything that