Auto Finance Excellence | Auto Finance News - Part 3

Sagent Lending Technologies merges auto operations into Defi Solutions

Sagent Lending Technologies‘ auto business will be renamed Defi Solutions by month’s end, when the two companies complete a merger announced today. Together, the companies provide technology solutions and services for lenders across the lending lifecycle, from originations and servicing to lease maturity management, remarketing and analytics, and digital engagement. Sagent also brings to the […]

5 Questions With… Daniel Chu of Tricolor

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. Having founded six companies over the past 25 years — including two which have gone public — Daniel Chu considers himself a serial entrepreneur. Now, as […]

What Capital One’s data breach means for auto finance

In the wake of Capital One Financial’s data breach, auto lenders should evaluate ways to tighten up cybersecurity and identify points of vulnerability. The breach compromised 140,000 Social Security Numbers, and 80,000 bank account numbers were made available, according to the bank’s response to the breach. However, the impact might be “somewhat contained,” said Brian […]

US Bank targets partners for mobile enhancements

  U.S. Bank is exploring potential partnerships to boost the bank’s mobile capabilities as it looks to bring in more customers and enhance the value it provides to dealers, John Hyatt, president of dealer services, told Auto Finance News. “We will continue to see advancements in technology that will allow more of our transactions to […]

What’s a subscription service? [Video]

Netflix, Spotify, and Amazon have the U.S. moving toward a subscription-based economy, and auto financiers are figuring out where they fit in. What does a car subscription service look like? Auto Finance Excellence answers that question in its explainer video, the first in a new animated video series. Click here to check it out. 

Westlake zeroes in on under-used tech

With autonomous vehicles, machine learning, and Tesla CEO Elon Musk attempting to merge people’s brains with AI (yes, that is a real thing), some lenders are still struggling to get dealers on board with basic tech tools. For Westlake Financial Services’s Mark Vazquez, senior vice president of marketing, the most under-utilized tool in auto finance […]

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 […]
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