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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 […]

Call for Speakers: AFN Seeks Speakers for Auto Finance Innovation Summit

Auto Finance Innovation Summit — the event of the industry focused on today’s technology and tomorrow’s innovation-driven opportunities — is searching for thought leaders in auto finance to join the speaker roster. Help shape our agenda for the 4th annual Auto Finance Innovation Summit, to be held at the Omni San Diego on May 14-15. […]

Auto Finance Innovation Summit to Delve Into Leading-Edge Auto Finance Tech

Developments in machine learning, subscription services, and blockchain are spurring lenders to rethink and refine their operations. The 4th Annual Auto Finance Innovation Summit, a part of the week-long event Auto Finance Accelerate, will explore what innovations have true importance to the industry, and how those technologies can be refashioned to break auto finance’s mold. […]

4 Auto Initiatives to Watch in 2019

While slowing car sales, an unpredictable tariff war, and a growing affordability issue could all make for a tough 2019, there are a number of auto initiatives that are looking to take off next year. Among them: Fair The used-car leasing app company has its sight set on global expansion in 2019 – and it’s […]
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