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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 […]

HyreCar Speeds Driver Onboarding With New Mobile App

Carshare company HyreCar rolled out its mobile app last week, speeding verification time for new drivers and aiming to reduce fraud, Chief Operating Officer Henry Park told Auto Finance News.  Like HyreCar's website, the app enables users to rent cars or list their cars for rent. HyreCar’s decision to launch a mobile app is based […]

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 […]

BB&T-SunTrust Merger to Establish $23B Auto Finance Operation

BB&T Bank’s acquisition of SunTrust Banks is likely to combine auto lending operations in a move that will improve efficiency but take time to configure, analysts told Auto Finance News. A SunTrust-BB&T merger would create a $22.8 billion auto finance operation, propelling the business into the top 20 among auto financiers, according to Big Wheels […]

Chase Auto Looks to Boost AI Initiatives, CEO Says   

SAN FRANCISCO — Implementing artificial intelligence into servicing operations is top of mind for Chase Auto Finance in 2019, Chief Executive Mark O’Donovan said during a panel discussion at the American Financial Services Association’s Vehicle Finance Conference this week. “We’re definitely looking to robotics and artificial intelligence for repossessions and the servicing space to improve […]

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. […]

Honcker Adds Auto Insurance Options to Growing List of App Services

Startup Honcker has added 10 insurers to its leasing app to create a holistic mobile car-buying process, Chief Executive Nathan Hecht told AFN. “We’re trying to make the entire process — not just the transaction of the lease itself — simple, without [consumers] having to walk into a dealership,” Hecht said. “Now we’re looking at […]

KAR Auction Bolsters Tech Offerings With Acquisition of Clearplan

KAR Auction Services is tapping into technology to better its operations with its acquisition this week of Clearplan. Clearplan, a Reno, Nev.-based company that offers a digital hub for repossession workflow management, logistics, and reporting. The digital platform connects thousands of recovery agents and lenders while enabling real-time communication to more efficiently list, log, and […]
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