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Tricolor CEO joins AFS speaker roster

Auto Finance News is honored to welcome Tricolor Auto Group Chief Executive Daniel Chu to the speaker faculty at the 19th annual Auto Finance Summit, which will take place at the Bellagio in Las Vegas on Oct. 28-30. The full agenda can be accessed here. Chu will give a presentation on Tuesday Oct. 29 at 11:30 a.m. […]

Toyota to pilot autonomous vehicle program with Chinese startup [Video]

Toyota Motor Corp. has struck a deal with Chinese startup Pony.ai to launch an autonomous vehicle program next month in Beijing and Shanghai, the companies announced on Monday. Pony.ai will build its autonomous driving system into Toyota’s Lexus RX vehicles. The companies will start the pilot project as they “attempt to accelerate the development and […]

GM Financial eyes AI for remarketing

GM Financial is leveraging artificial learning and advanced analytics to price off-lease inventory and optimize dealers' ability to sell those vehicles, Executive Vice President of Customer Experience Bob Beatty told Auto Finance News. Some of the questions GM Financial is tackling are: “What inventory should they buy and how much should they sell it for? […]

CarLabs readies phase 2 of AI-chatbot for Kia Motors Finance

Kia Motors Finance customers will be able to make account-specific queries online as soon as the first quarter of 2020, CarLabs.AI Chief Executive Martin Schmitt told Auto Finance News. The AI-chatbot developer integrated a navigational chatbot onto the captive’s website in April, which directs customers to the right resource and answers questions such as, “When […]

5 Questions With… Daniel Chu of Tricolor

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. Having founded six companies over the past 25 years — including two which have gone public — Daniel Chu considers himself a serial entrepreneur. Now, as […]

GM Financial strengthens instant messaging with IBM Watson

GM Financial will integrate IBM Watson, an AI-powered chatbot, to its consumer-facing messaging app as soon as the end of the third quarter, Bob Beatty, executive vice president of customer experience, told Auto Finance News. The app, which launched last year, is averaging 62,000 downloads per month so far this year, Beatty said, noting that […]

CPS debuts AI-powered deal structuring portal

Consumer Portfolio Services launched an online portal last month that enables dealers to structure loan deals within seconds, said Senior Vice President of Sales Curt Powell. The portal, which took more than a year to develop, is called the Automated Structure Approval Program, or ASAP for short. Dealers can “test and toggle” any vehicle and […]

Senators Urge Regulatory Oversight of AI to Prevent Discrimination

As auto lenders increasingly turn to technology like artificial intelligence to improve business practices, two senators are pressing regulators to ensure anti-discrimination laws keep up with the innovation. Sen. Elizabeth Warren (D-Mass.) and Doug Jones (D-Ala.) sent a letter to the leaders of the Consumer Financial Protection Bureau, Federal Reserve, Office of the Comptroller of […]
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