Post Tagged with: "collections"

Pelican Alters Charge-Off Practices

Pelican Alters Charge-Off Practices

April 17, 2017 at 11:12 am 0 comments

Regulatory attention on repossession and collection processes has encouraged Pelican Auto Finance LLC to charge off delinquent assets later in the lifespan of deteriorating loans, said Chief Performance and Compliance Officer Joel Kennedy. The industrywide threat of regulatory enforcement from the Consumer Financial Protection Bureau and the Federal Trade CommissionRead More

Four ‘Must-Do’ Digital Collections Strategies, Get the Guide [SPONSORED]

Four ‘Must-Do’ Digital Collections Strategies, Get the Guide [SPONSORED]

March 31, 2017 at 9:30 am 0 comments

Chasing past due bills is hard. But by leveraging the smartphone – a device that lies in the pocket of nearly every consumer – auto finance companies can improve their collections strategy and reach customers on their preferred channels, driving costs down and improving cure rates. As a collections professional,Read More

Fintech Continues to Transform Auto Finance, but Will it Take Over?

Fintech Continues to Transform Auto Finance, but Will it Take Over?

March 23, 2017 at 8:55 am 0 comments

Fintech companies that advertise efficient financing solutions are becoming more prevalent in the auto industry. Technology is advancing in a way where traditional players have no choice but to partner with new entrants, but the tide hasn’t completely turned from competition to collaboration. That’s according to Chris Chestnut, president of Payix.

Webinar — Collect Smarter: High Cure Collections in the Age of the Digital Consumer [SPONSORED]

Webinar — Collect Smarter: High Cure Collections in the Age of the Digital Consumer [SPONSORED]

March 21, 2017 at 8:30 am 0 comments

Auto loan delinquency is rising. So what can you do today to improve outcomes, reduce service costs and transform collections into an effective customer service channel? Phone or email alone is no longer the best way to reach today’s connected consumer. Orchestrating the “always-on” digital channels is now the mostRead More

Webinar — Collect Smarter: High Cure Collections in the Age of the Digital Consumer [SPONSORED]

Webinar — Collect Smarter: High Cure Collections in the Age of the Digital Consumer [SPONSORED]

March 13, 2017 at 10:49 am 0 comments

Auto loan delinquency is rising. So what can you do today to improve outcomes, reduce service costs and transform collections into an effective customer service channel? Phone or email alone is no longer the best way to reach today’s connected consumer. Orchestrating the “always-on” digital channels is now the mostRead More

WEBINAR: Using Behavioral Analytics to Bolster Performance

WEBINAR: Using Behavioral Analytics to Bolster Performance

August 15, 2016 at 12:53 pm 0 comments

Most analytics projects that lenders attempt to implement don’t meet expectations, Jim Bander, manager of decision science at Toyota Financial Services, said during the Center for Auto Finance Excellence’s latest webinar: Using Behavioral Analytics to Bolster Performance. During the webinar, Bander shares five lessons learned from when TFS implemented aRead More

Exeter to Focus on Efficiency, Not Growth, CEO Says

Exeter to Focus on Efficiency, Not Growth, CEO Says

June 14, 2016 at 12:48 pm 0 comments

Exeter Finance Corp. aspires to materially grow its portfolio marketshare over the next three to five years, but will likely keep volume steady for the next 18 months as it focuses more on scalability and less on growth, according to Jason Grubb, Exeter’s chief executive. “My focus right now is to ensureRead More

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

June 8, 2016 at 10:45 am 0 comments

PLANO, Texas — Using alternative data solely for credit decisions “is a narrow view,” according to Daniel Parry, co-founder and chief executive of Praxis Finance. Lenders can also utilize alternative data to better manage other parts of the business, including in the collections process and to mitigate consumer fraud.

Prestige Financial Makes Switch to Texting

Prestige Financial Makes Switch to Texting

April 29, 2016 at 10:24 am 1 comment

Prestige Financial Services switched to text messaging as an exclusive communication channel for customers that opt-in, Rich Hyde, chief operating officer, told AFN. “We already utilized texting back and forth, but we made an official change on our front-end,” Hyde said, estimating that 30% to 40% of Prestige’s customers preferRead More

Fay Myers Motorcycle: Powersports is a ‘Dog-Eat-Dog World’

Fay Myers Motorcycle: Powersports is a ‘Dog-Eat-Dog World’

March 15, 2016 at 10:30 am 0 comments

Fay Myers Motorcycle World takes a different approach to building its financial partnerships by focusing on establishing long-term relationships with smaller lenders, Jason White, general manager of Fay Myers Motorcycle World, told Powersports Finance.

3 Ways Data-Driven Analytics Helped Toyota Financial

3 Ways Data-Driven Analytics Helped Toyota Financial

March 7, 2016 at 11:20 am 0 comments

Toyota Financial Services boosted investment in big data analytics to revamp its collections processes, and it  has already yielded results, Jim Bander, the captive’s national manager of decision science, told Auto Finance News.

3 Tips on Collecting from Millennials

3 Tips on Collecting from Millennials

January 29, 2016 at 11:54 am 0 comments

Getting in touch with overdue borrowers is tough. Getting in touch with millennial overdue borrowers is even tougher.

Startup Aims to Make Subprime Payments More Engaging

Startup Aims to Make Subprime Payments More Engaging

October 2, 2015 at 12:15 pm 0 comments

Customer Engagement Technologies, a fintech startup company, is set to “drastically improve the overall image of subprime auto market,” by gamifying the payment experience with a new app called PaySwag, launched last month, Chief Executive Max Haynes told AFN. The app, intended for underbanked customers, allows users to make or adjust payments online,Read More

Westlake to Grow Servicing Team in Dallas

Westlake to Grow Servicing Team in Dallas

September 30, 2015 at 11:16 am 0 comments

Westlake Financial Services is expanding its servicing team in Dallas, part of a plan potentially to double in size, the company said yesterday. As it expands in the center of the country, the Los Angeles-based, primarily subprime lender said it plans to hire 85 employees by mid-2016 for its DallasRead More

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