Bank of the West Eyes Powersports, Marine Startups for Accelerator Program

SAN FRANCISCO — Bank of the West is scouting RV and marine startups for its accelerator, called FinLab, in conjunction with innovation center L’Atelier BNP Paribas North America, Powersports Finance has learned. Both institutions are owned by French bank BNP Paribas. FinLab sources ideas, designs prototypes, and tests concepts with Bank of the West in […]

French Captive Preps Direct Lending Platform Following Successful Tests in Europe

SAN FRANCISCO — RCI Bank and Services is testing direct lending in Europe, which the captive hopes to eventually expand into additional markets, Francois Peltier, RCI’s director of open innovation, said at Auto Finance Innovation 2018. Direct lending is a “huge opportunity,” and RCI Bank and Services is taking it “very seriously,” Peltier told attendees. […]

Groupe PSA Eyes Multi-Brand Car Subscriptions With Ramp-Up of U.S. Operations

SAN FRANCISCO — Auto manufacturer Groupe PSA North America is sketching plans for a multi-brand subscription service, President and Chief Executive Larry Dominique told attendees at Auto Finance Innovation 2018 earlier this month. “One thing that makes PSA unique [from other OEMs] on a global basis is that over in Europe under the Free2Move banner […]

Car Subscription Service Borrow to Debut New User Platform in 2Q

SAN FRANCISCO — Los Angeles-based car subscription service Borrow is building out a new platform to enhance the user experience by the end of the second quarter, Founder Jon Guzik told attendees at Auto Finance Innovation 2018 yesterday. Since pivoting its business model to shorter three- to nine-month lease terms and changing its name, the company started […]

Fair Wins DEMOvation Challenge at Auto Finance Innovation

SAN FRANCISCO — Used-leasing app Fair took home the top prize at today’s Auto Finance Innovation 2018 DEMOvation challenge, edging out eight other startups. The DEMOvations offer an opportunity for innovative companies to demonstrate their products in front of a wide audience of auto lending and leasing executives. Fair, which launched last September, allows customers […]

Startup Blinker Eyes ‘Big Bank’ Partnerships Following Ally Insurance Deal

Blinker plans to integrate “big banks” and national credit unions into its private-party vehicle marketplace mobile app platform, on the heels of a partnership with Ally Insurance last week, founder and Chief Executive Rod Buscher told Auto Finance News. The startup currently funds its own loans through equity and a credit facility. Buscher declined to […]

Forward-Thinkers Join ‘Innovation Bar’ to Answer Questions at Auto Finance Innovation 2018

Apple has its Genius Bar, and Auto Finance Innovation 2018 has its “Innovation Bar,” where innovation and mobility experts share their wisdom (and complimentary cocktails). The event, taking place March 8, at the Parc 55 Hotel in San Francisco, will feature three financial experts at their own “bar” during the closing cocktail reception, ready to […]
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