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Originating Engagement: What Consumers Want From Lenders [SPONSORED]

Contrary to popular belief, a recent Fiserv study found that a majority of borrowers are not asking for a completely online experience when it comes to getting their next auto lease or loan. Instead, they’re looking for a more supportive level of engagement with their lender, including the ability toRead More

WEBINAR: Digital Lending for Auto Finance: What Do Customers Really Want?

WEBINAR: Digital Lending for Auto Finance: What Do Customers Really Want?

Digital self-service in banking is not about customer service, but rather, customer engagement — or at least it should be. That’s the upshot from the latest webinar hosted by Center for Auto Finance Excellence entitled Digital Lending for Auto Finance: What Do Customers Really Want? “Although attracting and retaining customers isRead More

Customer Retention, Quick Funding Are Key to Staying Ahead

Customer Retention, Quick Funding Are Key to Staying Ahead

While it’s probably overly pessimistic to say that a “perfect storm” is brewing in auto finance, it is true that some lenders are under increasing pressure on a variety of fronts, including higher loan losses from looser underwriting, plateauing car sales, the possibility of higher interest rates, and lower prices forRead More

Compliance Insider: Houston, We Have a Problem

Compliance Insider: Houston, We Have a Problem

I guess when it rains, it pours. My last two columns dealt with the Consumer Financial Protection Bureau’s proposed rule to regulate small dollar loans and the confusion the proposed rule, if finalized, might create for the vehicle finance industry. Not to be outdone, it seems the Department of DefenseRead More

Don’t Rely Too Heavily on Data, CPS CEO Advises [Video]

Don’t Rely Too Heavily on Data, CPS CEO Advises [Video]

There is more data available in auto finance to use in the decisioning process than ever before, Consumer Portfolio Services Inc. Chief Executive Charles Bradley said, but data isn’t everything. “Everyone is trying to find their niche,” he said during a fireside chat at the 2016 Auto Finance Summit. “TheRead More

Executive Roundup: How to Foster a Dynamic Company Culture

Executive Roundup: How to Foster a Dynamic Company Culture

In order to foster innovation in the industry, leaders agreed teams need to feel comfortable speaking up and voicing their opinions – that’s the upshot from some executives in the auto finance sector. Whether that means collaborating on a whiteboard, establishing a healthy work-life balance, or not punishing inventive ideasRead More

Innovate Auto Finance: Lenders Need to Balance Their Ground Forces With Data

Innovate Auto Finance: Lenders Need to Balance Their Ground Forces With Data

LAS VEGAS — As the auto finance industry evolves — and as data becomes more refined and easier to use — it’s important for lenders to consider input from their consumer-facing staff, versus relying solely on data and analytics when making business decisions, said Scott France, vice president of Innovate Auto FinanceRead More