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Tag Archives: customer experience

CarMax Eyes East Coast Expansion for Omni-Channel Buying Experience

CarMax Inc. has set its sights on an East Coast expansion as it rolls out an omni-channel buying experience that debuted in Atlanta last month, Mike Farris, chief operating officer of CarMax Auto Finance, told Auto Finance News. Next in line will be the Midwest and then the West Coast, he added. CarMax’s omni-channel offering […]

Bianca Chan
January 30, 2019
Operations, Sales & Marketing, Strategy, Update

The Value of User Experience When Managing Risk

Much has been written about the rise of machine learning and artificial intelligence and how it will impact the auto lending industry. While there has been a significant amount of hype, the promise of artificial intelligence is simply game changing. The most obvious application is that thinking machines will be able to assess risk and […]

Aclaro
January 23, 2019
Sponsored

How Lenders’ Response Time Influences Dealer Relationships

Automotive OEMs rate vehicle performance by the time it takes to go from zero to 60 in seconds. This is a measure of energy conversion – fuel, spark, movement. While this is a mechanical situation, a comparison can be made to business response times. While fuel is a potential auto loan customer, the spark is […]

EFG Companies
December 21, 2018
Sponsored

Reinventing Loyalty: 4 Companies Transforming the Customer Experience

From the December issue: Customer experience is seen as the key to attracting and retaining consumers in an increasingly digital world. Unfortunately, providing quick and easy interaction has not been auto financing’s strong point. Historically, car buyers have been left feeling overwhelmed with paperwork, confused by ancillary products, and exhausted from negotiating price options. However, […]

Nicole Casperson and Monica Melton
December 11, 2018
Features, Innovation & Mobility, Operations, Sales & Marketing, Technology

2019 Crystal Ball: Competition, Direct Lending, and Customer Experience

According to the Credit Union National Association (CUNA), “69% of credit union auto loans originate through the indirect channel, and only 5% of those indirect members use additional credit union products.” Once the indirect loan has been paid off, it is challenging for the lender to extend the customer relationship. Any future engagement is with […]

EFG Companies
December 7, 2018
Sales & Marketing, Sponsored

How Lenders Should Leverage the Power and Promise of Artificial Intelligence

Technology does not wait for rules or regulations. Artificial intelligence (AI) is no exception. The potential profit associated with fintech speeds up innovation, but it also increases the risk of implementing machine intelligence without assessing potential hazards. Simply put, we do not understand how some machines solve problems with deep learning algorithms. This risk can […]

How to Leverage Current Machine Learning and AI Tools in Auto Lending

Auto dealers have heard the hype about how machine learning (ML) and artificial intelligence (AI) are going to transform their businesses. Typically, there are usually two binary outcomes that are discussed. On one hand, the promise of the future seems so bright. Instead of relying on intuition and gut feeling, many divisions of their businesses […]

The Value of User Experience When Managing Risk

The Benefits of Artificial Intelligence in Auto Lending

We are inundated with discussion about how new technologies promise to change the way that we do business and live our lives. Yes, many of these proclamations offer rhetorical flourish and grand visions. That said, there are new technologies available and startups that are maximizing these technologies to transform the auto industry — even today. […]

How Lenders’ Response Time Influences Dealer Relationships

How Lenders Can React to Negative Equity Situations

Here’s a commonly heard dialogue: Consumer #1 – “I’d like to buy a new car but I’m still upside down on this one!” Consumer #2 – “Oh don’t worry about that! You can just roll the balance into your new loan!” Consumer #1 – “Great! Let’s get started!” According to Edmunds.com, nearly 33% of car […]

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Tag Archives: customer experience

CarMax Eyes East Coast Expansion for Omni-Channel Buying Experience

The Value of User Experience When Managing Risk

How Lenders’ Response Time Influences Dealer Relationships

Reinventing Loyalty: 4 Companies Transforming the Customer Experience

2019 Crystal Ball: Competition, Direct Lending, and Customer Experience

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