Features | Auto Finance News - Part 2

Global Lending Services bets long-term success on direct business

Global Lending Services is in the midst of establishing a direct lending business, a move Chief Executive Steve Thibodeau calls “the next gear of [the company’s] growth engine.” While the Atlanta-based auto lender is keeping short-term aspirations in check — Thibodeau said he does not see the direct business as a significant driver of volume […]

Missing the mark: Online portals need a second look

From the July issue: As questions around the digital customer experience dominate industry conversations, lenders are realizing the value — and hurdles — of investing in such advancements. Lenders seek to deliver optimal digital interactions, and as they pour money, time, and resources into developing that online experience, consumers get one step closer to a […]

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 […]

Reconciling refunds: Why aftermarket products became an afterthought

From the July issue: State and federal regulators are ratcheting up enforcement of ancillary product refunds. In the past few years, auto lenders have faced heightened scrutiny related to the percentage of consumers buying ancillary products, how the products are offered, and what disclosures are provided. But compliance examinations of late have veered in another […]

Competitive (Dis)Advantage: The Data Reporting Standard Set to Disrupt Auto Finance

A new accounting regulation with a staggered implementation schedule is on track to disrupt the auto finance playing field. The Financial Accounting Standards Board (FASB) rule called Current Expected Credit Losses — or CECL, for short — requires lenders to reserve for the lifetime of a loan’s losses upon origination, which could double loss provisions […]

Perfecting the Formula: Why Lenders Need to Harness the Power of Social Media

From June's issue: Since the rise of Facebook, Twitter, and Instagram, consumers are increasingly turning to social media to view content, interact with each other, and communicate with the companies they engage with in business. Lenders in auto finance have started harnessing the width and breath of social media, but many are only scratching the […]
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