Drive Motors Hires Head of Strategic Partnerships

Drive Motors, an online sales platform for dealers, announced today the appointment of Chris Gugliotta as its head of strategic partnerships. Gugliotta brings 20 years’ experience in technology, automotive, and retail sales. He was formerly the head of innovation and online sales at Lithia Motors, a dealership headquartered in Medford, Oregon. In his new role, […]

Randolph-Brooks Talks Tech and Why It Won’t Be Using Subscription Services Anytime Soon

A credit union that has built its auto lending brand on building relationships has turned its focus to digital channels. To that end, Live Oak, Texas-based Randolph-Brooks Federal Credit Union has an extensive auto loan portfolio and is looking to improve member experience. This process starts with mobile capabilities, said Sonya McDonald, RBFCU executive vice […]

Manheim Adds White Glove Concierge Service to App as Part of $100 Million Investment

Auto auction Manheim is investing $100 million through 2019 to bolster the capabilities of its digital services and apps, the company announced this week. Coinciding with the announcement is the enhanced launch of Manheim Express, a mobile marketplace for wholesale vehicle buyers and sellers. Enhancements will include “full-service concierge service” for app users. Users will […]

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 […]

Subprime Lender GLS Plans Mobile Wallet Integration

SAN FRANCISCO — Atlanta-based subprime lender Global Lending Services is aiming to build a mobile wallet by yearend, Andy Clements, senior vice president of information technology, said at Auto Finance Innovation 2018 last week. “We don’t, right now, have the mobile wallet, but we have that on the radar for the year,” he said. Ultimately, […]

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 […]
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