To succeed in today’s market, auto finance providers must adapt to changing customer behavior and volatile economic conditions. Not only have consumers become more cautious, but they have access to a wider range of financing options than before as lenders from slower growing consumer credit segments move into the market. A growing proportion of customers use the internet to scout for the best deals, including financing incentives. The competition has become progressively more intense, and with more buyers arriving at the showroom or used car lot with pre-approved credit from direct lenders, dealers are challenged to present competitive offers. So how can auto finance companies differentiate? Intelligent analytics-based processes.
The best-performing auto finance companies the growing challenges through intelligent business processes at every stage of the product cycle. They apply leading-edge analytics to build risk-based pricing models that widen margins while accelerating loan origination. Data-driven tools also help lenders streamline regulatory compliance, improve fraud detection, reduce process failure rates, enhance customer communications, and allocate capital more strategically. Specialized operating models for such analytics practices enable their cost-effective deployment—at scale. Genpact (NYSE:G, genpact.com),a leading business process management and analytics organization brings you a whitepaper on how analytics is being used to help its auto finance clients.Click here to download and find your impact.