Technology
Leverage Generative AI: Reducing Delinquencies in Subprime Auto Loans
⏯️ Play the Audio Demo Delinquency rates have risen to historic highs, with 6.11% of subprime borrowers failing to meet...
Apple cancels work on electric car, ending decadelong effort
Apple Inc. is canceling a decadelong effort to build an electric car, according to people with knowledge of the matter,...
Vroom’s Shortt to lean into advanced analytics, AI in United Auto Credit revamp
Incoming Vroom Chief Executive Tom Shortt has big plans for financier United Auto Credit as he continues to steer the...
E-contracting origination volume increases 21% YoY
Digitally originated auto loan contract volumes increased 21% across the industry during the fourth quarter as banks and captives prioritized...
Arivo CEO prioritizes AI, looks to boost efficiency 30%
Subprime lender Arivo Acceptance Chief Executive Landon Starr will continue to embrace technology while making structural adjustments to the company’s operations...
Capital One, Discover integration could cost $2.8B
Capital One announced its plans to acquire Riverwoods, Ill.-based Discover Financial Services and expects to spend $2.8 billion on integration costs, including tech conversion. ...
AI-based pricing contributes to inaccurate estimates
Accurate estimated online payments are crucial to driving online vehicle sales. However, as auto lenders embrace AI-based pricing, reduced pricing...
Tech complexity spurs enhanced risk measures
Advances in digitalization and machine learning are sparking a need for lenders to revisit operational risk management protocols. In the...
