How USAA Is Improving Experiences for Members [VIDEO]

USAA has specific objectives around customer service and simplifying the consumer-facing loan application process. The bank’s priorities heading into 2019 are to continue to provide an end-to-end digital experience for members to find and finance cars. “As a direct lender, we facilitate the process from research to enabling that member to apply online, decisioning that […]

USAA Mulls Future of Augmented Reality App as Pilot Nears Finish Line

USAA Bank is establishing itself as an innovative competitor in the direct lending space with its augmented reality app pilot — a move meant to provide consumers with a holistic approach to the car-buying experience, Renee Horne, vice president of consumer lending experiences, told Auto Finance News. “USAA doesn’t go through dealerships like many of […]

USAA Offers Auto Loans Through Augmented Reality App

USAA is piloting a car-buying augmented reality app, which allows consumers to scan cars on the road and apply for an auto loan from local inventory right on the spot, the bank announced Monday. Augmented reality slowly crept into consumer’s lives whether it’s scanning a bedroom to visualize a new paint job, virtually placing new […]

Auto Securitization Report Highlights Riskier Outliers

AmeriCredit and Santander Consumer USA stand out as the two lenders securitizing auto loans with an average loan term above 70 months and below a 600 credit score, according to the latest report from DBRS. In AmeriCredit’s most recent issuance included in the report the lender had an average credit score of 580 and an […]

Regional Banks Wrangle With ABS Capital Requirements, Lawyer Says

MIAMI — Although some smaller banks such as Fifth Third Bank and USAA Federal Savings Bank have issued auto ABS deals in recent weeks, it will become increasingly hard for these smaller regional banks to keep up with capital requirement regulations through 2019, said Stuart Litwin, Mayer Brown LLP’s co-head of securitization. Regulations require financial […]

USAA Emphasizes Education To Prevent Delinquencies

While a number of lenders are revamping their collections and repossession practices to adapt to a new regulatory environment, USAA Federal Savings Bank is focusing on a range of educational tools to keep members in their vehicles. “We’re very purposeful in guiding [consumers] and helping get them into the right type of loan, so we […]
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