Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out.
At Bank of America’s auto division, preserving a personal touch is key to engaging with both consumers and colleagues in a meaningful way, or so Duane Freeman, senior vice president of consumer vehicle lending and national sales executive, has learned during his 22-year tenure in the auto finance industry.
“For example, in our client direct auto product, 55% [of loans] are digitally originated, but only 8% of those transactions are unassisted where the consumer never talks to an associate,” Freeman said. “So, even if you build the utopia of digital retailing, the consumer still wants high touch and you have to have that in your process flows.”
Auto Finance Excellence asked Freeman five questions to find out what his company goals are, advice that helped him succeed in an ever-changing industry, and a surprising fact that his colleagues would never suspect.
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