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Auto Finance Innovation Summit Delves Into Analytics-Enabled Tech

Nagesh Jaladi, vice president of applied predictive technologies at Mastercard, has joined the speaker faculty at Auto Finance Innovation Summit to share how lenders can successfully leverage and evolve analytic capabilities. Jaladi will offer insights into how captive and non-captive lenders are innovating through analytics, best practices for overcoming organizational and operational constraints to try […]

Veros Credit Turns to Machine-Learning Fraud Solution

In an effort to combat fraud, Veros Credit has adopted PointPredictive’s machine-learning fraud scoring solution, Auto Fraud Manager. The onboarding process — which typically lasts anywhere from three to six months, depending on the lender — was completed earlier last week. “We do a lot of work to educate lenders on the problem of misrepresentation […]

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 […]

Wells Fargo Turns to Machine Learning for Collection Insights

Wells Fargo Auto is looking beyond credit decisioning models for machine learning applications. Specifically, the company employed “sentiment analysis” — an automated process of understanding opinions from written or spoken language — for collections. “One thing I was surprised to see is that through natural language recognition and sentiment analysis, it was very easy to […]

Santander Uses AI to Triage Cybersecurity Threats

Difficulty pinpointing the source of a data breach is often to blame for the lag between perpetration and detection of fraud, said Santander Consumer USA Chief Information Security Officer Harold Gonzales at AFSA’s Vehicle Finance Conference. “It’s not like we have a dashboard and one big red light goes off and we all chase after […]

Ford Credit Eyes ‘Self-Adapting’ Underwriting Model

As Ford Motor Credit Co. refines the first phase of its machine-learning model for credit decisioning, the captive is already working on version 2.0. “In the fourth quarter of 2018, we launched machine learning into production," Director of Credit Analytics Yi Lu said during a panel discussion at the American Financial Services Association’s Vehicle Finance […]

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

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 […]
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