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Renault, Volvo, Hyundai invest in cybersecurity startup

Upstream Security, a cybersecurity startup specializing in connected vehicles, closed a $30 million Series B funding round, the company announced today. The funding round was led by Renault Venture Capital and includes Volvo Group Venture Capital, Hyundai Motors, Hyundai AutoEver and Nationwide Ventures. Charles River Ventures, Glilot Capital and Maniv Mobility also returned for the second […]

SunTrust grows loan portfolio as merger with BB&T awaits DOJ approval 

SunTrust Banks’ indirect and direct consumer portfolios increased by double digits as the bank continues to aim for a fourth-quarter closing of its merger with BB&T Bank, SunTrust Chief Financial Officer Allison Dukes said during the bank’s earnings call last week.  However, regulatory approvals are “moving at their own pace,” said BB&T Chief Executive Kelly […]

Mobiliti bolsters subscription service with increased market data

Detroit-based subscription service Mobiliti is tweaking its business model to provide dealers with real-time market data, the company announced today. In addition to providing consumers with vehicle subscription and purchase options, Mobiliti now delivers market data and additional leads to dealers by tracking customer intent on the site. The “much-needed, market-specific data” will help dealers to […]

Active fraud ring targets California, Florida, Nevada

PointPredictive has uncovered an active fraud ring that has targeted at least six lenders, Chief Fraud Strategist Frank McKenna told Auto Finance News. Over the past few months, PointPredictive's anti-fraud consortium has discovered more than 75 fraudulent auto loans totaling $1.6 million. PointPredictive analysts notified the involved lenders, which are participants in the consortium, and […]

A blossoming partnership: An inside look at Santander’s deal with FCA

From the October feature: Since revising their financing alliance this summer, Santander Consumer USA and Fiat Chrysler Automobiles appear to have smoothed the speed bumps that had hindered the Chrysler Capital partnership for years. The original partnership had consistently been weighed down by missed penetration rate targets. Quarter after quarter, Santander would cite “the competitive […]

PointPredictive launches anti-fraud subscription service

PointPredictive debuted a fraud surveillance subscription service Wednesday, designed to bolster lenders’ fraud defenses by granting access to the company’s analysts and suite of risk-scoring software. By integrating Outsourced Fraud Mitigation, as it’s called, with a loan origination system, lenders can leverage PointPredictive’s scoring solutions and fraud experts to manually review applications to identify fraudulent […]
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