Innovation & Technology | Auto Finance News - Part 3

AFS 2019: How Tricolor leverages Google Mexico to generate leads [Video]

LAS VEGAS — Tricolor Auto Acceptance is leveraging a partnership with Google Mexico to reach more Hispanic consumers and enhance its lead-generation process, company Chief Executive Daniel Chu said at the Auto Finance Summit 2019.  Tricolor’s goal is to “broadly develop the most robust search engine to serve the unbanked Hispanic consumer,” Chu said. “We […]

TD Auto Finance explores AI for underwriting

TD Auto Finance is now exploring use-cases for artificial intelligence in its underwriting process that would leverage a Toronto-based startup acquired by parent company TD Bank last year. “When it comes to technology, the biggest thing is AI,” said TD Auto Finance President and Chief Executive Andrew Stuart during a panel discussion at FICO World […]

AFS 2019: HyreCar exec pinpoints subscription service challenges and opportunities [Video]

What do delivery pizza and automotive subscription services have in common? HyreCar’s SVP of Strategic Partnerships Brian Allan made the case at the Auto Finance Summit that vehicle subscription services could unlock the potential for consumer adoption with a seamless mobile app, just as Domino’s achieved with pizza delivery 10 years ago. “Domino’s changed the […]

AFS 2019: Chase Auto augments private-label financing business after losing Mazda

LAS VEGAS — Chase Auto is looking to supplement its private-label financing venture with a “new business” focused on strategic partnerships that will leverage the private-label infrastructure, Chief Executive Mark O’Donovan said at the Auto Finance Summit. “We had some unfortunate news that Mazda had let us know a little while ago they’re going to […]

AFS 2019: NMAC to boost consumer base with fintech partnership

LAS VEGAS — Nissan Motor Acceptance Corp. has been engaged in a pilot program with Modal — formerly known as Drive Motors — to connect additional customers to the captive for vehicle financing, said Colin Cooke, director of financial products, at the Auto Finance Summit. “That’s been our focus over the last 18 months," Cooke […]

AFS 2019: TFS to launch car-buying website with preapprovals [Video]

LAS VEGAS – Toyota Financial Services, in partnership with OEM Toyota Motor Corp., is piloting a product that will enable consumers to shop inventory at participating dealerships and secure preapprovals online, Carrie McNamara, TFS national manager of customer and dealer experience, said Wednesday at the Auto Finance Summit. Currently, seven or eight dealers are piloting the product, which […]
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