BMW Financial Services | Auto Finance News | Auto Finance News

BMWFS to leverage US Bank resources in new co-brand agreement

BMW Financial Services is leveraging U.S. Bank's resources to launch a co-branded credit card in January 2020, a move that will enable the captive to concentrate on the auto industry "rather than act as a bank," a U.S. Bank spokeswoman told Auto Finance News. As a part of the agreement, U.S. Bank will acquire BMW Bank's […]

Mercedes-Benz Financial fosters innovation to drive originations

Mercedes-Benz Financial Services’ focus on ushering a culture of innovation, collaboration, and new mobility fronts has buoyed loan and lease originations this year, Vice President of Credit Operations Chris Kaefer told Auto Finance News.  The captive leapfrogged competitor BMW Financial Services, increasing originations 34.6% to $17.1 billion in 2018, according to Big Wheels Auto Finance data. Comparatively, BMWFS originations declined […]

Group 1 extends $1.8B syndicated credit facility

Group 1 Automotive has extended its $1.8 billion revolving syndicated credit facility with 23 financial institutions, including four captive finance companies, for another five years, according to a company release. The credit facility will expire in June 2024 and have the option to expand to $2.1 billion. It was originally set to mature in June […]

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, […]

Sparking Connections: How Tech Alliances Are Firing Up Lenders

Slowing vehicle sales and the potential for a market downturn have lit a spark among lenders, technology companies, and OEMs, igniting partnerships aimed at gaining marketshare and creating solutions attainable only by way of collaboration. In January, Ford Motor Co. and Volkswagen AG established an alliance that will likely spur the OEMs’ captives to collaborate […]

AI Startup Helps BMW Financial Scale Call Center With Chatbots

SAN DIEGO — BMW Financial Services will have automated “digital assistants” added to its call center capabilities by the third quarter, thanks to a partnership with startup CarLabs.AI, the tech company’s Chief Executive Martin Schmitt said at the Auto Finance Innovation Summit Wednesday. CarLabs is a company that delivers AI-powered digital assistants for automotive brands. It started […]

Hyundai Capital Launches AI-Powered Chatbot

Hyundai Capital America has adopted artificial intelligence into its Kia Motor Finance brand with the launch of “Kian,” an AI-powered chatbot that assists consumers with finance-specific questions, Martin Schmitt, chief executive at CarLabs, told AFN. The bot started “living” on Kia Motor Finance's website last month, Schmitt said, replacing the search bar and serving as […]
Page 1 of 612345 » ...Last »