Lenders to Boost Investment in Direct Lending, Mobile Apps in 2018 | Auto Finance News

Lenders to Boost Investment in Direct Lending, Mobile Apps in 2018

From left, Jeff Danford, SVP of Auto Finance at Ally Financial; David Hollodick, SVP, Product and Pricing Executive Consumer Vehicle Lending at Bank of America; and
Chas Roscow, Director, Vehicle Lending at State Farm Bank, discuss direct lending trends in a panel discussion at the 2017 Auto Finance Summit.

LAS VEGAS — Many auto lenders plan to increase their investment in direct lending and mobile applications in 2018, according to a poll conducted at the 2017 Auto Finance Summit.

Out of all attendee respondents, 35% said direct lending is where they will increase their digital technology investment/spending the most next year.

Bank of America Dealer Financial Services, for example, is considering partnerships with multi-lender fintech platforms to drive more volume, said David Hollodick, the bank’s product and pricing executive for consumer vehicle lending.

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