Auto Finance Accelerate 2019 | Auto Finance News

Carvana Turns to AI For Customer Support

SAN DIEGO — Carvana is integrating a conversational artificial intelligence platform into its customer support channels, Christina Keiser, vice president of strategy, said at the Auto Finance Sales and Marketing Summit last week. Propel.AI, which Carvana bought last year, is in the early stages of testing. “We think the human touch is important,” Keiser said. […]

Bank of America Expects Direct Volume to Match Indirect Within 5 Years

SAN DIEGO — Bank of America‘s direct loan portfolio may catch up with its indirect portfolio as soon as 2022, Duane Freeman, senior vice president of consumer vehicle lending and national sales executive, predicted during a panel discussion at the inaugural Auto Finance Sales & Marketing Summit on Monday. “We do see a future within the […]

AI Startup Helps BMW Financial Scale Call Center With Chatbots

SAN DIEGO — BMW Financial Services will have automated “digital assistants” added to its call center capabilities by the third quarter, thanks to a partnership with startup CarLabs.AI, the tech company’s Chief Executive Martin Schmitt said at the Auto Finance Innovation Summit Wednesday. CarLabs is a company that delivers AI-powered digital assistants for automotive brands. It started […]

Tricolor Uses Innovation, Technology to Drive Customer Experience 

At Tricolor Auto Acceptance, technology drives the goal of delivering seamless, sustainable financial products across dealerships and digital channels, President and Chief Operating Officer Don Goin told Auto Finance Excellence. “Our business strategy is hyper-focused on the customer experience relative to financial inclusion,” Goin said. “Part of this strategy is the prioritization of product development […]

Tricolor’s Machine Learning Tech Is Reducing Its Reconditioning Costs

SAN DIEGO — The machine-learning technology deployed by Tricolor Auto Acceptance has cut its vehicle reconditioning costs, Chief Executive Daniel Chu said during the Auto Finance Innovation Summit here on Wednesday. Tricolor provides the reconditioning centers that service its chain of retail dealerships with technology that determines the most cost-effective source of car parts. The […]

Bloom Wins DEMOvation Challenge at Auto Finance Innovation Summit

SAN DIEGO — Bloom, a decentralized data security solution powered by blockchain, was crowned the winner of the third annual DEMOvation Challenge at the 2019 Auto Finance Innovation Summit, toppling six other startups. The DEMOvation Challenge offers fledgling startups the opportunity to showcase their technology in front of a wide audience of auto lending and […]

Australian Startup Eyes Foray Into U.S. Market

SAN DIEGO — CarDeals2Me, an Australian startup that provides car buyers with a price quote that expires within 24 hours, is looking to enter the American market — once it secures a lender partner. “We’re grazing around to hit the U.S. market,” said Chief Executive Shaun Sumaru during the Auto Finance Innovation Summit here today. […]
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