Using Collections as a Strategic Tool for Driving Growth, Customer Relationships

Collections departments are hard at work. When delinquencies in auto finance increase, it is generally seen as the typical “cycle” and there is a spike in hiring collectors, investments are made in analytics, and the need for upgrading collections technology is acknowledged. There is also a predictable decline in originations. For example, there was a […]
  • Genpact Auto Finance Practice
  • July 20, 2018
  • Sponsored

Managing Mixed Messages

These days, there are a lot of mixed financial messages. A 2017 report from the Board of Governors of the Federal  Reserve System stated that 40%  of  U.S.  adults struggled to pay a $400 emergency expense, like a vehicle repair. In  March 2018,  the  Federal Reserve raised interest rates for the sixth time since the 2008 financial crisis, and it is expected they […]

Flagship Credit Names First CarFinance.com CEO

Flagship Credit Acceptance has announced the appointment of the first dedicated CEO of its direct lending arm CarFinance.com, the company announced in a press release this week.   Craig Hewitt began leading the lender’s fintech arm on July 16, bringing 25 years of auto finance experience to the company. Most recently, he held the role […]

Bank of America Severs Third-Party Agreement as Portfolio Flattens

Although Bank of America has maintained “modest growth” year over year in its auto portfolio for the past few quarters, it now expects volume to flatten or even decline in the coming quarters, said Chief Financial Officer Paul Donofrio on the earnings call Monday. “The recent moderation in the consumer growth rate is driven mostly […]

Nicholas Financial Sacrifices Originations for Loan Profitability, CEO Says

Subprime lender Nicholas Financial is valuing “discipline” and “pricing” over volume in an effort to increase profits by utilizing branch offices to enhance relationships with independent dealerships, Chief Executive Doug Marohn told Auto Finance News. “The focus is not on the quantity of business, but rather on the quality and profitability of what we originate,” […]

AutoGravity Names New CEO With Deep Finance Background

AutoGravity has announced the appointment of a new chief executive to lead the company as well as a new chief technology officer, following the departures from two of the company’s head brass. Alex Mallmann was named president and chief executive today, taking over for Andreas Hinrichs who quietly left the company in May, according to […]

Canadian Fintech Expands to U.S., Leverages Dealer Relationships

The U.S. division of auto loan platform Canada Drives launched in the states as USA Drives in March following a six-month pilot program by leveraging dealer relationships, Cody Green, founder and co-chief executive, told Auto Finance News. The platform, which launched in Vancouver in 2010, helps consumers gain access to auto financing, personal loans, and credit-building solutions through the […]
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