Three distinguished executives from Chase Auto Finance, USAA Bank, and State Farm Bank are set to discuss the state of direct lending at the 2018 Auto Finance Summit during a session entitled “Removing the Middleman.”
The discussion will take place during the Innovation Track on the second day of the summit — Thursday, October 25 at 2:40 p.m. at The Wynn, Las Vegas.
With technological innovations making major waves in the industry, it’s a revolutionary time for auto finance — especially in terms of the traditional lending model. More lenders are pushing into the direct lending space through partnerships or creating their own proprietary systems. But, is the industry ready to remove the middleman?
The panel will feature an open dialogue between Peter Gasparro, Managing Director, Business Development & Strategy, Chase Auto Finance; Renee Horne, Vice President of Consumer Lending Experiences at USAA Bank; and Chas Roscow, Director, Vehicle Lending & Agent Banking at State Farm Bank.
In recent years, companies have made strides in their direct lending portals. Chase Auto launched its Chase Auto Direct platform, which the company announced last year. In 2016, USAA Bank updated its online direct lending portal to allow members to search for cars based on their lifestyle choices and plans to make additional changes throughout the year.
“Understanding that there is a variety of [consumer] lifestyles and life stages, we help our members to really hone in on the right vehicle, and ultimately the right financing for their lifestyle,” Horne said.
The panelists will discuss other trends and best practices in the direct lending space, such as improving the dealer experience and converting online research into in-person sales.Like This Post