Lana Johnson | Auto Finance News | Auto Finance News

Lana Johnson

Capitalizing on today’s tech

Technology may provide the best competitive advantage to lenders in the current economic climate. With fintechs, lenders can accelerate the loan origination process — smoothing underwriting, improving decision quality and continually identifying opportunities for greater efficiency. When choosing modern technologies, lenders must assess the benefit of hosted or on-premise solutions and determine which works for […]

Fraud analytics, alt-data reduce risk for nonprime lenders

The ability to identify risk as early as possible in the loan origination process can improve portfolio performance, and lenders focused on nonprime segments have better resources than ever before to reduce loan risk. Early identification of high-risk borrowers can reduce or potentially eliminate defaults. Fraud analytics and alternative credit data — which provides a […]

Fighting fraud with fintech

To counter the continued rise in fraud, auto lenders of all sizes are counting heavily on risk management and loss mitigation. For small lenders, risk management may be the part-time responsibility of one employee. Banks, captives, and credit unions may devote an entire team to the endeavor. However, the degree of diligence devoted to risk […]

Mobility Matters in the Auto Lending Process

The volume and variety of innovative commerce transactions available on mobile devices continues to grow. Younger generations — millennials and Generation Z — live with mobile devices. The gradual adoption of 5G networks will substantially enhance the speed and functionality of all things mobile — along with higher expectations from millions of users. To remain […]

How Lenders Can Strengthen Dealer Relations With Technology

Restrained auto sales growth, millennial reluctance regarding vehicle ownership, and ridesharing are changing demand and increasing competition. Savvy lenders are adapting to these trends with technology while establishing and solidifying dealer relationships to generate lending opportunities. Two types of technology are especially important for solid dealer relations. No. 1 is integration with dealer management systems, […]

5 Features of Lending Technology to Measure Compliance

“We expect that the next five years will bring more change to auto finance than the past 50 years combined.” That statement from PricewaterhouseCoopers, made in the consultancy’s Auto Finance Risk and Compliance Highlights 2017 report, was based on research into the numerous factors affecting auto lending. With urbanization, evolving models of vehicle ownership, changing consumer […]