Auto Finance Excellence | Auto Finance News - Part 2

How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]

High-tech to high-touch: How AI empowers lenders to humanize customer experiences

From filtering email spam to analyzing checks for mobile deposit, artificial intelligence is becoming ingrained into daily life in ways both seen and unseen. For financial institutions, the arrival of AI-driven tools has raised the bar for the customer experience. Digital tools are replacing traditionally human touchpoints with a faster, more satisfying experience — and […]

PenFed, Wells Fargo charity efforts aid vets

Two auto lenders are honoring armed service veterans in their latest community service campaigns, according to separate releases by Pentagon Federal Credit Union and Wells Fargo last week. PenFed served as the sponsor of the inaugural 2019 San Antonio Business Journal Veterans in Business Award, which honors 12 veterans in business and two veteran-owned companies […]

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 […]

Capitalizing on today’s tech

Technology may provide the best competitive advantage to lenders in the current economic climate. With fintechs, lenders can accelerate the loan origination process — smoothing underwriting, improving decision quality and continually identifying opportunities for greater efficiency. When choosing modern technologies, lenders must assess the benefit of hosted or on-premise solutions and determine which works for […]

Veros Credit outlines steps to prepare for CFPB’s revised debt collection rule [podcast]

While the Consumer Financial Protection Bureau mulls industry feedback on its proposed amendments to the Fair Debt Collection Practices Act, lenders should be proactive in their compliance strategies to prepare for the bureau’s final ruling. In this episode of The Roadmap, Veros Credit’s Chief Legal Officer Robert Tennant chats with Auto Finance Excellence to discuss what the impact on lenders will be if the new […]

Top elements of a successful customer experience strategy [webinar]

With an increasing number of consumers as comfortable buying cars online as they are ordering groceries or booking travel, lenders must design an auto finance process that centers on customer experience. That’s the upshot from the latest webinar hosted by Auto Finance Excellence. Tune in to the complete recording of the webinar here. In this Auto Finance Excellence webinar, Bill Nemecek, […]
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