Articles by: Huixin Deng

Why Lenders Should Use Big Data in Decisioning Process

Why Lenders Should Use Big Data in Decisioning Process

Best Practices, IT, Operations, Risk, Sales & Marketing September 20, 2017 at 11:00 am

Credit scores have always been an important criterion in a lender’s decisioning process. However, this trend may alter as non-traditional data has increasingly attracted attention in the auto lending industry. Lenders who exclusively use traditional credit bureau scores are “missing a wealth of information that could have a huge impactRead More

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How to Create a Customer-Centric Auto Lending Experience

Guides, IT, Operations, Sales & Marketing September 11, 2017 at 11:59 am

The paper process during a transaction is a challenge lenders face in the space, because up to 3% of all loans initiated tend to not get booked, which would lead to “additional work” and “loss in revenue,” Theodore Papailiou, director of value engineering at eOriginal, said during a webinar entitled HowRead More

3 Best Practices for Training Debt Collectors

3 Best Practices for Training Debt Collectors

Best Practices, Compliance, Guides, HR, Management, Payments August 21, 2017 at 1:00 pm

Auto loan delinquency rates are at the highest level since the 2007 financial crisis, which is why auto lenders are investing more time in debt collection best practices. As such, refining and bolstering training for debt collectors has become increasingly important. Auto Finance News spoke with a few experts inRead More

8 Tips for Improving Collection Practices

8 Tips for Improving Collection Practices

Best Practices, Guides, Management, Operations, Payments August 16, 2017 at 12:18 pm

Delinquencies continue to climb to levels unseen since the financial crisis, which is why many lenders are focused on improving collections practices and bolstering their loss mitigation strategies. Auto Finance News spoke with four collections experts to pinpoint best practices and optimal strategies for mitigating losses and improving collections. HereRead More

Car Buyers Boost Reliance on Online Research

Car Buyers Boost Reliance on Online Research

Management, Sales & Marketing August 1, 2017 at 11:34 am

About 67% of car buyers visited only one to two dealerships before purchasing a vehicle, revealing that auto shoppers are relying more on online research and digital tools to make buying decisions, according to the latest Netsertive survey. The 2017 Netsertive Automotive Path to Purchase Survey, which was released yesterday,Read More

It’s Time to Integrate Collections and Recovery Systems, FICO Says

It’s Time to Integrate Collections and Recovery Systems, FICO Says

Management, Operations July 21, 2017 at 11:50 am

Nowadays, managing a collection system and a recovery system separately proves difficult, according to a webinar hosted by FICO yesterday. Keeping two systems has become harder to defend when a single system lowers labor costs and is more efficient, FICO said. There are many similarities between collection and recovery systems,Read More

5 Tips to Lower Mobile App Bounce Rates

5 Tips to Lower Mobile App Bounce Rates

Best Practices, Guides, IT, Sales & Marketing July 13, 2017 at 12:48 pm

As more millennials enter the car-buying market, it becomes an integral part of any lender’s business plan to enhance mobility efforts to meet consumer technology demand. Mobile apps have penetrated virtually every industry there is, from food delivery services to online dating. Financial services, and auto finance in particular, areRead More

Why Lenders Should Take Advantage of Alternative Data

Why Lenders Should Take Advantage of Alternative Data

Operations, Risk July 11, 2017 at 12:30 pm

There was some variation in what data was considered alternative, according to FactorTrust’s Alternative Data Survey Results. Overall, the definition of alternative data was quite unanimous as “credit related data not found on the traditional three credit reports,” according to the June survey. For example, FactorTrust, LexisNexis, Clarity, TransUnion L2C, TransUnion TLO,Read More

Digital Tools Help Lenders Book Loans Lost in Paper Deals

Digital Tools Help Lenders Book Loans Lost in Paper Deals

Compliance, IT, Operations July 5, 2017 at 12:43 pm

The key to closing the gap and establishing trust between dealers and lenders is technology, said Theodore Papailion, director of value engineering at eOriginal, during a webinar called “How to Enhance Vehicle Finance Processes and Operations” hosted by eOriginal. The paper process during a transaction is a challenge lenders faceRead More