Press Release

"I am convinced that the transfer between science and industry works really well when both sides benefit from it and conduct research together from the start. This is the case here," said Lower Saxony's Science Minister Falko Mohrs. He explained: "Not only does VWFS benefit from the research findings, the University of Hildesheim also has exclusive access to 'use cases', to real applications, through this agreement. This is a great example of how cooperation between science and industry grows and endures through its success. I would like to see many more examples of this throughout the state."

"It is great for our university and for the Institute of Computer Science to continue the cooperation with Volkswagen Financial Services – a cooperation that has already been successful in previous projects – by means of the joint research center "Data Analytics (VWFS DARC)", stressed Prof. Dr. May-Britt Kallenrode, President of the University of Hildesheim. She added: "The promotion of knowledge transfer through the exchange between researchers and practical experts is not only our task and "Third Mission" as a university, but also a great opportunity. The projects generate research results and students in the computer science study programs can be specifically involved in them in keeping with the philosophy of practice-related and research-oriented teaching."

Dr. Christian Dahlheim, Chairman of the Management Board of Volkswagen Financial Services AG, stated: "We are pleased that we are taking the existing successful cooperation with the University of Hildesheim to a new level by establishing the DARC. The research results from the VWFS DARC will provide us with state-of-the-art AI solutions, in vehicle and customer analytics, for example, but also in risk management too, and this will enable us to further develop our business for the benefit of our customers."

Concrete use cases for the business processes at VWFS arise, for example, in the prediction of vehicle prices and residual values, in supply management in vehicle sales, or in fraud detection and prevention.

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 16,849 employees worldwide – including 7,570 alone in Germany. Volkswagen Financial Services report total assets of around EUR 235.6 billion, an operating result of EUR 5.67 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2021).