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Consumers, Dealers Seek Greater Transparency Through E-Contracting

Consumers and dealers alike increasingly prefer the transparency and fast funding that comes with e-contracting as lenders who offer the service scored “considerably higher” on the J.D. Power 2018 U.S. Dealer Financing Satisfaction Survey. Dealers scored captives 65 points higher on average while non-captives added 52 points to their overall score when e-contracting options were […]

Matthew Wood
August 24, 2018
Innovation & Technology

Poor Returns on Repo-Vehicle Sales Push Losses Higher, Bank Exec Says

Despite default rates remaining steady on repossessed vehicles, the cars are selling for less and causing lenders to experience more loss, Micky Watts, senior vice president of indirect lending at Anderson Brothers Bank, told Auto Finance News. “Defaults have stayed steady for the last few years as far as percentage, but we’re actually losing more […]

Matthew Wood
August 22, 2018
Risk Management

Wall Street Concerned Treasury Bonds Signal 2020 Recession, Economist Says

Wall Street executives believe that tightening in the U.S. Treasury Department’s yield curve is a sign that a recession could hit as soon as 2020, Gunnar Blix, deputy chief economist of Equifax, told Auto Finance News. The yield curve is a tool economists use to track the strength of the economy by following the difference […]

Nicole Casperson
August 17, 2018
Archives, Capital Markets

Adding-On Risk: Consumers Rack up Tabs On Ancillary Products

Consumers’ defenses go on high alert when they step into the F&I office to finalize a deal. By that time, they have spent hours in the showroom and researching online, and they just want to drive their car off the lot. Yet, they have to sit through one more sales pitch — for add-on products, […]

William Hoffman
August 16, 2018
Archives, Compliance & Regulation, Features, Risk Management

Joydrive Seeks to Integrate Finance Marketplace Into Online Store

Online retailer Joydrive works with a dealers existing lender network to arrange financing for customers on the site, but in the medium to long-term, the company is seeking a strategic partner to “integrate a financing marketplace,” Chief Executive Hunter Gorham told Auto Finance News. “Early on we decided not to exclusively align with just one […]

William Hoffman
August 13, 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: finance

Consumers, Dealers Seek Greater Transparency Through E-Contracting

Poor Returns on Repo-Vehicle Sales Push Losses Higher, Bank Exec Says

Wall Street Concerned Treasury Bonds Signal 2020 Recession, Economist Says

Adding-On Risk: Consumers Rack up Tabs On Ancillary Products

Joydrive Seeks to Integrate Finance Marketplace Into Online Store

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