Innovation & Mobility | Auto Finance News - Part 2

Lyft Stock Starts Trading on Nasdaq

Rideshare giant Lyft began trading on the Nasdaq Global Select Market today, raising $2.3 billion in its initial public offering. Lyft sold 32.5 million shares at $72 per share. The stock is trading under the ticker "LYFT." As of 12:15 p.m. Eastern Time, the stock was trading at $84.25 per share, up 17% from the […]

New MBFS Sales Exec Zeroes In on Tech Innovation

Mercedes-Benz Financial Services USA plans to use artificial intelligence and machine learning to further adapt to the industry’s “online evolution,” newly appointed Vice President of Sales and Operations Mark Lovely told Auto Finance News. Though traditional auto finance will remain a part of the business, Lovely is on the lookout for “new and exciting developments […]

Deadline Nears for AFN DEMOvation Challenge Submissions

With the deadline looming, now’s the time for startups to apply for a limited number of innovation demos during Auto Finance Innovation Summit 2019, which is slated for May 14-15 at the Omni San Diego. Auto Finance News is holding a DEMOvation Challenge in advance of Auto Finance Innovation Summit 2019 to determine which startups will […]

Westlake Calls on Dealers to Use Automated Payoff Tool Amid Recent Success

Westlake Financial Services is on pace to have about 10% of its payoffs transacted with Dealertrack's automated payoff and title release platform — its most successful month since signing up for the tool in November 2018, said company Senior Vice President of Sales and Marketing Mark Vazquez. This month is likely to be the lender’s […]

BMW Financial Ties Up Partnerships With Fintech Startups, CEO Says

BMW Financial Services is hammering out partnership details with a few of the six startups that participated in its “CollaborationLab” program late last year, President and Chief Executive Ian Smith told Auto Finance News. “We prioritized a couple of the partnerships, and those are in dialogue as we speak,” Smith said without specifying which had […]

Auto Finance Innovation Summit Delves Into Analytics-Enabled Tech

Nagesh Jaladi, vice president of applied predictive technologies at Mastercard, has joined the speaker faculty at Auto Finance Innovation Summit to share how lenders can successfully leverage and evolve analytic capabilities. Jaladi will offer insights into how captive and non-captive lenders are innovating through analytics, best practices for overcoming organizational and operational constraints to try […]

Why the Auto Finance Industry Needs a Greater Focus on Digital Sales & Marketing

Most sales and marketing job ads go something like this: As an Inside Sales Relationship Manager, you will be contacting Auto Dealerships to sign up with AUTO FINANCE COMPANY NAME HERE as one of their sub-prime lenders. … The expectations for the first year at this job is to be making $60k – $100k per […]

What Uber Really Gets From Selling a $1 Billion Stake

There’s more going on under the hood of a consortium’s planned $1 billion investment in Uber Technologies Inc.’s self-driving car unit than immediately meets the eye. Softbank Group Corp.’s Vision Fund and other investors are set to pump that amount into the division at a valuation of between $5 billion and $10 billion. It’s almost […]
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