Risk Management | Auto Finance News

Renault, Volvo, Hyundai invest in cybersecurity startup

Upstream Security, a cybersecurity startup specializing in connected vehicles, closed a $30 million Series B funding round, the company announced today. The funding round was led by Renault Venture Capital and includes Volvo Group Venture Capital, Hyundai Motors, Hyundai AutoEver and Nationwide Ventures. Charles River Ventures, Glilot Capital and Maniv Mobility also returned for the second […]

Active fraud ring targets California, Florida, Nevada

PointPredictive has uncovered an active fraud ring that has targeted at least six lenders, Chief Fraud Strategist Frank McKenna told Auto Finance News. Over the past few months, PointPredictive's anti-fraud consortium has discovered more than 75 fraudulent auto loans totaling $1.6 million. PointPredictive analysts notified the involved lenders, which are participants in the consortium, and […]

A blossoming partnership: An inside look at Santander’s deal with FCA

From the October feature: Since revising their financing alliance this summer, Santander Consumer USA and Fiat Chrysler Automobiles appear to have smoothed the speed bumps that had hindered the Chrysler Capital partnership for years. The original partnership had consistently been weighed down by missed penetration rate targets. Quarter after quarter, Santander would cite “the competitive […]

PointPredictive launches anti-fraud subscription service

PointPredictive debuted a fraud surveillance subscription service Wednesday, designed to bolster lenders’ fraud defenses by granting access to the company’s analysts and suite of risk-scoring software. By integrating Outsourced Fraud Mitigation, as it’s called, with a loan origination system, lenders can leverage PointPredictive’s scoring solutions and fraud experts to manually review applications to identify fraudulent […]

Westlake pushes third-party servicing with two-prong strategy

Following its acquisition of SNAAC’s portfolio, Westlake Financial plans to be even more aggressive in the third-party servicing space heading into 2020, Todd Laruffa, vice president of Westlake Advanced Lending and Portfolio Services (ALPS), told Auto Finance News. In addition to servicing portfolios for companies that are exiting the business, Westlake is targeting companies entering […]

Becerra releases proposed CCPA regulations

California Attorney General Xavier Becerra released the office’s long-awaited proposed regulations implementing the California Consumer Privacy Act (CCPA). AFSA previously submitted comments on behalf of its members, raising significant concerns with the draft regulations during the preliminary rulemaking process. As part of the rulemaking process, the AG’s office will hold four public hearings in early December to […]

CPS increases capture rates with alternative data

Consumer Portfolio Services is experiencing higher capture rates as a result of a new scorecard that was implemented last year, Senior Vice President of Risk Management Chris Terry told Auto Finance News.  Nine months post-implementation, “CPS is seeing the results without negatively impacting our pricing,” Terry said. The difference between CPS’s new consumer-focused scorecard versus […]
Page 1 of 28212345 » 102030...Last »