John McCormick Joins Royal Media to Manage Content Production

NEW YORK, NY (October 10, 2018) — John McCormick, a seasoned content executive, has joined Royal Media as Editorial Director. McCormick comes to Royal from SourceMedia, where he had the same title for 10 years. He was also a long-time senior editor at Ziff Davis. As Royal’s Editorial Director, a newly created position, McCormick will […]

Five Questions With… Renee Horne of USAA

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Renee Horne, vice president of consumer lending at USAA Bank Renee Horne, vice president of consumer lending at San Antonio, Texas-based USAA Bank since June 2016, leads […]

Maintaining Momentum: Outsourcing Could Be Key to Profitability as Subprime Lenders Exit the Field

Rising interest rates, a growing swell of delinquencies, and loose lending standards are conspiring against small subprime auto lenders. According to the New York Fed, 4.3 percent of auto loan balances were 90 or more days delinquent as of March 31, 2018. And as noted in Bloomberg, nonbank lenders’ subprime auto loans are going bad at the highest […]

3 Challenges to Insurance Tracking and How Innovation Is the Solution

The ratio of consumers that are uninsured is 1 in 8 borrowers, and the likelihood that every lenders’ portfolio is partly made up of uninsured borrowers is high, Denis Brosnan, president, and chief executive of DIMONT said during a webinar. However, lenders — both prime and subprime — have lost focus on developing strategies for […]

Why Finance Companies Are Using Verification Tools at Record Levels

Reading some of the headlines from major media outlets, it might seem as though auto finance companies didn’t understand the importance of verifying income and employment information provided by applicants. Everything was written from auto finance companies being fraudsters to the auto industry being the harbinger for the next recession. However, the headlines largely got […]

AI in Lending: It’s Time to Get Personal

More than 250,000 people have asked Alexa, Amazon’s voice-controlled bot, for its hand in marriage, according to a report by New Scientist. It’s safe to say, Artificial Intelligence (AI) has gotten personal. So, how can lenders use AI to create a more individualized lending experience? Borrowing 101 Let’s start with product education. Frankly, loan products aren’t […]
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