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GM Financial Strengthens Ties With Blockchain Startup, First Products Revealed

GM Financial has expanded its partnership with Spring Labs through a $23 million Series A funding round, the startup announced on Wednesday. The round was led by GreatPoint Ventures “with significant participation from existing investors,” including General Motors Ventures, August Capital and RRE Ventures, among others, according to a press release. Through the GM Ventures […]

Startup Bloom Pilots Blockchain Tech With Several Captives

SAN DIEGO — Bloom, a blockchain-enabled platform that allows customers to choose what personal data to share with lenders, is piloting its technology with several captives, Founder and Chief Executive Jesse Leimgruber told Auto Finance News at the Auto Finance Innovation Summit last week. Bloom was the winner of the event’s annual “DEMOvation Challenge.” At the heart of Bloom’s design is BloomID, […]

Volvo Financial President Pegs AI, Vehicle Connectivity as Tech Winners

GREENSBORO, N.C. — Volvo Financial Services is betting on artificial intelligence and autonomous vehicles as customers increasingly opt out of vehicle ownership, President Scott Rafkin told Auto Finance News at a Demo Day that closed out the captive's 10-week iLabX accelerator program. "I could see absolute applicability for the artificial intelligence technologies that we took […]

BMW Financial Ties Up Partnerships With Fintech Startups, CEO Says

BMW Financial Services is hammering out partnership details with a few of the six startups that participated in its “CollaborationLab” program late last year, President and Chief Executive Ian Smith told Auto Finance News. “We prioritized a couple of the partnerships, and those are in dialogue as we speak,” Smith said without specifying which had […]

JPMorgan Chase Taps Blockchain Technology to Create Cryptocurrency

JPMorgan Chase & Co. expects its newly created cryptocurrency to speed payment processes between institutions and, potentially, auto dealerships. The currency, called JPM Coin, is a 1:1 fiat currency and will be issued over the bank’s proprietary blockchain technology. “It’s still early, but [blockchain and JPM Coin] could be great for our dealers and common […]

Volvo Financial Services Tees Up AI, Blockchain at Innovation Lab

Volvo Financial Services is leveraging the start of its iLabX accelerator program to determine “technology disruptors” ripe for investment, Vice President of Global Strategy and Head of Innovation Allen Atchley told Auto Finance News. To start, investments in artificial intelligence and blockchain “are the most interesting to us, especially in the lab context,” he said. […]

GM Financial Joins Startup Blockchain Network for Fraud Prevention

General Motors Financial Co. is turning to blockchain technology from Spring Labs to strengthen fraud prevention and detection capabilities. Spring Labs, which counts GM Financial as its “cornerstone partner” in the auto finance space, is building a blockchain-based network of finance and technology companies, company Founder and Chief Executive Adam Jiwan told Auto Finance News. […]

Volvo Financial Taps 7 Startups With iLabX Program

Volvo Financial Services is hosting seven startups for its iLabX program, which gives the companies an opportunity to develop ideas and utilize the captive’s resources over 10 weeks at VFS U.S. headquarters in Greensboro, N.C. The seven companies, announced today, were selected from 183 applicants and will have an opportunity to partner with the captive following […]
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