Auto Finance Excellence | Auto Finance News - Part 15

Why Finance Companies Are Using Verification Tools at Record Levels

Reading some of the headlines from major media outlets, it might seem as though auto finance companies didn’t understand the importance of verifying income and employment information provided by applicants. Everything was written from auto finance companies being fraudsters to the auto industry being the harbinger for the next recession. However, the headlines largely got […]

AI in Lending: It’s Time to Get Personal

More than 250,000 people have asked Alexa, Amazon’s voice-controlled bot, for its hand in marriage, according to a report by New Scientist. It’s safe to say, Artificial Intelligence (AI) has gotten personal. So, how can lenders use AI to create a more individualized lending experience? Borrowing 101 Let’s start with product education. Frankly, loan products aren’t […]

BHPH Lender Tricolor Promotes ‘Graduation’ Into Higher Credit Tiers

Most lenders’ business strategy is to ensure that they keep the consumers they work with consistent, but used-car retailer Tricolor drives consumer demand through a different approach. The mission-driven lender works with a niche subprime consumer base — focusing on the sale and financing of vehicles to Hispanic consumers, mostly through buy-here-pay-here methods. Within Tricolor’s 20 locations […]

Five Questions With… Chuck Berend of BBVA Compass

Five Questions With is a monthly Q&A segment on that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Chuck Berend has led BBVA Compass‘s auto finance unit since April 2017. He came to Birmingham, Ala.-based BBVA in July 2015 as senior vice president of risk […]

Participation Points: Why Servicers Should Encourage Borrower Engagement

Customer engagement is a hot topic, with many companies now adding “customer experience” directors and other such roles to their ranks. But what does it mean to “engage” a borrower? In basic terms, engagement describes participation. But, for loan servicers, that means interacting with the borrower on their terms. With the right tools and resources, […]

3 Strategies to Improved Dealer Communication

Dealers serve as the sounding board to what plans, tactics, and strategies OEMs and captives implement, John Thacker, national director of sales for Kia Motors Finance, told Auto Finance Excellence. “If [Kia] has a new plan or program and we want to pilot it, we run it by our dealer council because their feedback is essential,” […]

Ramping Up Operations With an Eye Toward Acquisition

If there is one lesson Westlake Financial Services has learned since it started purchasing portfolios back in 2011, it’s to prepare for hiccups along the way. However, the typically subprime lender has also discovered the essential practices businesses should incorporate for successful acquisitions and overall growth. Westlake leverages its third-party division, Westlake Portfolio Management, to […]

Auto Finance Excellence Relaunches as a New Community for Industry Professionals

Auto Finance Excellence today relaunched as a comprehensive online community and industry resource for best practices and advice for auto lending and leasing professionals. At the new Auto Finance Excellence (, formerly known as the Center for Auto Finance Excellence industry executives will find insights, ideas, and innovation on the practice of auto finance. The relaunched service services seasoned executives, as […]
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