Digital portal funnels half of Bank of America's direct loan originations | Auto Finance News | Auto Finance News

Digital portal funnels half of Bank of America’s direct loan originations

Signage is displayed at a Bank of America Corp. branch in Alameda, California, U.S., on Monday April 9, 2018. Photographer: Michael Short/Bloomberg

Bank of America’s direct-to-consumer online portal accounted for 56% of direct auto loan originations, according to the bank’s fourth-quarter earnings, released today. Direct auto loan volume has ramped up as the bank keeps “investing heavily” in its online platform, Chief Financial Officer Paul Donofrio said during the earnings call, noting that more than 2 million […]

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