The customer experience is lacking when it comes to technology evolution within the auto finance industry, said Georg Bauer, co-founder of subscription service NextCar. As a result, auto financiers are looking for startups with a customer focus.
Bauer, along with Robert McDonald; general manager of auto finance at Pagaya; and Scott Painter, founder and chief executive of NextCar, judged the DEMOvation Challenge at the recent Auto Finance Innovation Summit.
For the challenge, document processor Romulus and a refinancing platform MotoRefi showcased their technologies for the three industry experts in a bid to determine which startup best serves customers through technology.
The panel crowned MotoRefi the DEMOvation Challenge winner. The fintech received the Best in Show prize — an advertising package valued at $10,000 with AutoFinanceNews.net. Watch the full panel on-demand here.
Auto Finance Risk Summit, the premier event for risk and compliance in auto finance, returns May 11-12, 2021 as a virtual experience. The virtual experience will offer the quality networking and education of past events, all through an online platform. To learn more about the 2021 event and register, visit www.AutoFinanceRiskSummit.com.