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Tag Archives: Daimler

Fleet management startup scores $5m credit line from MBFS

Mercedes-Benz Financial Services has granted a $5 million credit line to VMAC Holdings, a fleet management firm that provides inventory for rideshare companies. The new line of credit will be used for VMAC’s incoming projects, including expanding its mobility-as-a-service business into “various municipalities” across the U.S., Co-Owner and Chief Operating Officer Grant Stark, told Auto […]

Nicole Casperson
September 11, 2019
Capital Markets, Innovation & Technology

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 […]

Nicole Casperson
July 17, 2019
Innovation & Technology, Risk Management

How Daimler-BMW’s $1.1B Mobility Venture May Affect Finance Operations

Despite Daimler AG and BMW Group’s $1.1 billion investment in a mobility and ride-hailing joint venture, the companies’ captives will continue to operate as competitors. “The core business with vehicles will remain unaffected, and the competition in the premium market will be maintained,” Daimler Financial Services spokesman James Ryan told Auto Finance News. “This also […]

Nicole Casperson
March 1, 2019
Innovation & Technology, Risk Management, Update

Daimler Joins BMW in $1.1 Billion Mobility Bet to Rival Uber

Daimler AG and BMW AG are pouring more than 1 billion euros ($1.13 billion) into their joint car-sharing and ride-hailing businesses to take on the likes of Uber Technologies Inc. and Lyft Inc. The German venture, which is estimated to become the world’s largest car-sharing operator, will weigh purchases of startups or established players, along […]

Bloomberg News
February 22, 2019
Innovation & Technology, Risk Management

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 […]

Bianca Chan
December 28, 2018
Innovation & Technology

BMW and Daimler Merge Mobility Services Divisions

BMW Group and Daimler AG will merge their respective mobility service divisions into a 50/50 joint venture, while still maintaining competition within their core businesses, the companies announced in a joint statement today. The venture is a “clear sign” that the mobility market is “maturing,” Grayson Brulte, a consultant and co-founder of Brulte & Company, told Auto Finance News. […]

Emma Sandler
March 28, 2018
Innovation & Technology, Risk Management

Aclaró releases EcoSystem 3.0, adds new board member

Aclaró, which provides disruptive technologies to the automotive, financial and government sectors, has released Aclaró EcoSystem 3.0 (ES 3.0), a game-changing toolset for vehicle purchasers, lenders and dealers, and added a new member to its board. With these announcements, the artificial intelligence software company continues the rapid advancement toward its overarching mission of helping lenders, […]

Compliance considerations when buying and selling customer leads

As an auto lender, you’re likely aware of the due diligence required when purchasing consumer leads. Lenders must exercise the same diligence when referring — or selling — declined leads downstream. Purchasing customer leads via referral programs has adapted as technology has allowed online lenders to communicate instantaneously with potential customers. Due to the nature […]

An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. Today, scores often […]

Tech Partnerships Help Drive Digital Transformation in Auto Finance

Aclaro, a company that develops tools for companies in the automotive industry, recently announced game-changing news that validates its mission of helping small, scrappy dealerships compete with larger competitors. As part of its efforts to deliver five-star service for its clients, Aclaro joined the Microsoft Partner Network, allowing the company to continue building its business […]

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 […]

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Tag Archives: Daimler

Fleet management startup scores $5m credit line from MBFS

Mercedes-Benz Financial fosters innovation to drive originations

How Daimler-BMW’s $1.1B Mobility Venture May Affect Finance Operations

4 Auto Initiatives to Watch in 2019

BMW and Daimler Merge Mobility Services Divisions

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