Technology
Inside Arra Finance’s acquisition of Crescent Bank’s $815M auto portfolio
Subprime auto lender Arra Finance has entered into an agreement to acquire New Orleans-based Crescent Bank’s auto business. Under the...
Carvana launches real-time down payment capabilities
Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to...
Subprime lenders eye ‘AI for good’ amid tariff headwinds
PLANO, Texas — Subprime auto lenders are prioritizing technology investments and preparing for potential slowdowns to weather macroeconomic headwinds. Focusing...
Lenders turn to AI to streamline dealer portals, accelerate funding
Auto lenders are integrating automation technology to enhance income verification, reduce fraud and improve the dealership experience. Auto lenders are...
High-tech ancillary products drive F&I costs up 10%
Rising vehicle costs could prompt OEMs to scale back on high-tech add-on products in some models. Kevin Cullum, president of...
NMAC, GM Financial invest in underwriting tech
Nissan Motor Acceptance Co. is investing in technology to improve communication with consumers and to enhance portfolio management and underwriting,...
Making zero-touch funding a reality
Cracking the code of smarter funding automation Building true automation into the auto lending contract funding process is a balancing...
FIs, regulators rev up anti-fraud strategies
The democratization offered by AI is making it easier for low-skilled, inexperienced bad actors to launch high-impact schemes. Even the...
