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How to leverage data and analytics to enhance the customer journey

It’s no exaggeration that the data revolution has transformed just about every industry. How data can be analyzed and used to improve business outcomes is virtually limitless. Properly harnessed, data can help find and rate new opportunities, streamline workflows, identify and reduce risk, predict future trends, and enhance employee engagement. Another big opportunity is improving […]

3 Strategies for Effective Customer Communication

SAN DIEGO — Technology is changing the way lenders engage with their customers, prompting lenders to hone their value propositions, Westlake Financial Service’s Senior Vice President of Marketing Mark Vazquez said at the Auto Finance Sales & Marketing Summit this month. Vazquez’s delved into tips on effective communication with consumers through both traditional and non-traditional […]

Biometrics, Behavior Trends Shield Lenders From Online Fraud, Experian Says

As financing moves increasingly onto the digital stage, one fraud expert urged auto lenders to leverage more data and analytics beyond the common credit data and ID verification tactics used today. Experian’s Senior Fraud Solutions Consultant Chris Ryan said auto lenders are particularly vulnerable to the use of synthetic identities, which he noted is on […]

AutoGravity to Streamline Applications With Experian Data

AutoGravity has set the wheels in motion to integrate consumer behavior data from Experian Automotive into its digital car-buying platform. “There’s an idea of what the perfect digital auto retailing is, and then there’s where we are today — and there’s this massive gap in between,” Mark Humphrey, AutoGravity’s vice president of lender network, told […]

KAR Steps Up Vehicle Valuation Capabilities in Online Auction Platform

KAR Auction Services has plans in motion to make online remarketing platform Openlane accessible on any device and to incorporate more data and analytics into the system, newly appointed president Peter Kelly told AFN. The revamp is slated to be completed by yearend. “We want to improve the user experience to more modern interfaces that don’t only work on desktops but […]

Experian Integrates Alternative Credit Criteria, Increasing Lending Pool

Experian’s plan to integrate telecom and utility bill payments into credit profiles should help lenders originate loans to a broader pool of consumers, according to Greg Wright, Experian’s consumer bureau chief product officer. “Lenders can actually see [consumers’] true creditworthiness and what their real financial behavior is,” Wright told AFN. Early testing and analysis showed […]

Westlake Exec Outlines Auto Finance Strategy for the Current Economic Cycle [VIDEO]

Technology tools will help lenders navigate and excel in the current financial cycle, said Paul Kerwin, Westlake Financial EVP and CFO, at the 18th Annual Auto Finance Summit. “For auto finance, we’re really in a new cycle and a new game,” Kerwin said. “The cycle started in 2009. Everything was pretty easy — there wasn’t […]

Dealers Seek Quicker Response Time, More Data From Lenders, New Study Finds

Sales reps and credit analysts are knowledgeable about their lenders’ product offerings but tend to fall short when it comes to accessibility and information-sharing, according to the Auto Finance Performance: Dealer Insights Report released today. The report, published by Auto Finance News’ parent company Royal Media, analyzes 6,200 dealer evaluations to identify the core traits that […]
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